youmeandmyapi:

17%

That was the effective tax rate paid by the 400 Americans with the highest adjusted gross income in 2007, the most recent year with IRS data available. The figure is down from almost 30 percent in 2005. All in all, this April 15 could be the best tax day for the wealthy since the early 1930s - with top rates on ordinary income, capital gains, dividends, estates and gifts at or near historic lows.

This is unsustainable - that’s all I know. It just invites massive and for capitalism, problematic backlash. The rich need to get in front of this, because government cannot.

Not sure how to fix this.  But I don’t think it is limited to the richest 400 Americans. I don’t want America to turn into a 3rd world country where there are super rich and everyone else.  I also don’t want something in between.  Our country will only start to grow again when we take Ford’s advice: He wanted every worker in his company to earn enough to buy the product they were building.  It can’t be that to feed and house your family you need 2 adults with 2 full time jobs each. Where is the joy in that?