Sunday, August 5, 2012

Half Of Companies Pay Lower Taxes Than Average American

A couple of Big Picture posts illustrate America's expanding income inequality.

"A new NerdWallet study found the 10 most profitable U.S. companies paid an average of 9% in federal taxes last year. These low rates are particularly shocking given that the official tax rate is 35%. The study also revealed more than half of the 500 largest U.S. companies paid a lower tax rate than the average American."

"Credit Suisse classifies “ultra high net worth individuals” (UHNW) as those people with at least $50 million in assets. According to CS’s 2011 Global Wealth Databook, more of these $50m+ UHNW people live in the United States than anywhere else in the world."

"Additionally, Americans in the top 0.1% have a disproportionately large share versus other countries with the most multi-millionaires."

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