The Top 0.1% Of The Nation Earn Half Of All Capital Gains

By Robert Lenzer

Forbes/ Nov. 20, 2011

Capital gains are the key ingredient of income disparity in the US– and the force behind the winner takes all mantra of our economic system. If you want  even out earning power in the U.S, you have to raise the 15% capital gains tax.

Income and wealth disparities  become even more  absurd  if we look at the top 0.1% of the nation’s earners– rather than the more common 1%. The top 0.1%–  about 315,000 individuals out of 315 million–  are making about half of all capital gains on the sale of shares or property after 1 year; and these capital gains make up 60% of the income made by the Forbes 400.

It’s crystal clear that the Bush  tax reduction on capital gains and dividend income in 2003 was the cutting edge policy that has created the immense increase in  net worth of corporate executives, Wall St. professionals  and other entrepreneurs. (continued)

Read the entire article here: Forbes

Boldface added by BPR Editor
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