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Yes, that is true. I've repeatedly state that the prime source of income for the uber-rich is not income, it comes from capital gains. Adjusting THAT rate could, I believe, be more effective. Loopholes ... if you make over (x)million you get none.
------------Income -----------------# filers
$1,000,000 under $1,500,000-----15,957
$1,500,000 under $2,000,000-----5,509
$2,000,000 under $5,000,000-----6,674
$5,000,000 under $10,000,000----1,047
$10,000,000 or more --------------400
Total # filers ----------------------29,587
Source IRS fiscal 2008
I still think we are looking at getting an awful lot out of a very few.
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"like strapping a pillow on a bull in a china shop" Bullitt
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