Increases for the wealthy are the result of greater investment income taxed at low capital gains rates. In other words, thanks to the Federal Reserve’s decades long low-interest rate policies and now no-interest (on overnight lending rates) policies and their quantitative easing scheming to pump up financial assets, the bulk of all gains in financial assets, principally stocks and newly purchased real estate, have gone to those that have the wherewithal to own those investment asset-classes, watch them rise and pay small taxes on their gains.
Posted on: Tue, 15 Oct 2013 17:41:05 +0000
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