For First Time It Takes A Billion To Make Magazine's List Of The Richest Americans
And I'm not even a millionaire...
This is another case of the rich get richer. Here's one reason from
here:
Quote:
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In 1960, the tycoons of America paid a marginal tax rate of 90 percent, which came to an effective rate of about 50 percent after all deductions and credits.
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Now billionaire tycoons pay an effective tax rate of about 15 percent, or none at all if their accountants and tax attorneys are clever enough.
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