Shifting Responsibility How 50 Years of Tax Cuts Benefited the Wealthiest Americans By Chuck
Collins, Alison Goldberg, and Sam Pizzigati, April 12, 2010, Wealth for the Common Good.
This study does not posit the existence of an élite of 400 families but studies the wealth gains and taxes paid by the top 400 over a period from 1955 to 2007-8.
This is based on the reports issued by the US Internal Revenue Service on the taxes
paid by the top 400.
http://www.irs.gov/pub/irs-soi/07intop400.pdf accessed on 25/11/2012
This led researchers to the conclusion that 400 families own a half of Americas wealth. Since ownership is notoriously easy to hide, and corporate ownership even more deceptive, and since off-shore ownership has burgeoned and is largely out of control, it would appear that the disparity is much worse than these statistics would suggest but much more difficult to decode.
(see Treasure Islands by Shaxson)
Collins, Alison Goldberg, and Sam Pizzigati, April 12, 2010, Wealth for the Common Good.
This study does not posit the existence of an élite of 400 families but studies the wealth gains and taxes paid by the top 400 over a period from 1955 to 2007-8.
This is based on the reports issued by the US Internal Revenue Service on the taxes
paid by the top 400.
http://www.irs.gov/pub/irs-soi/07intop400.pdf accessed on 25/11/2012
This led researchers to the conclusion that 400 families own a half of Americas wealth. Since ownership is notoriously easy to hide, and corporate ownership even more deceptive, and since off-shore ownership has burgeoned and is largely out of control, it would appear that the disparity is much worse than these statistics would suggest but much more difficult to decode.
(see Treasure Islands by Shaxson)