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Top 400 Earners in U.S Averaged $345 Million in 2007, IRS Say

Discussion in 'Political Discussion' started by reflexblue, Feb 18, 2010.

  1. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    The 400 highest-earning U.S. households reported an average of $345 million in income in 2007, up 31 percent from a year earlier. If this keeps going the USA will resemble Mexico, either your rich or your poor. Canada will have a border problem


    Top 400 Earners in U.S Averaged $345 Million in 2007, IRS Says - Yahoo! News

    The figures for 2007, the last year of an economic expansion, show that the average income reported by the top 400 earners more than doubled from $131.1 million in 2001. That year, Congress adopted tax cuts urged by then-President George W. Bush that Democrats say disproportionately benefits the wealthy.
    Last edited: Feb 18, 2010
  2. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    345 million is a lot of money.. wish they would break it down by occupation.. Wall Street Bankers... Wall Street Bankers.
  3. BSR

    BSR Rookie

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    I would think most are company executives they cashed options. Its not like they get that every year as a paycheck.

    Really, what is the relevance of the top 400 earners in 2007? How is this at all meaningful in any way?
  4. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Just more class warfare. Not to mention that an average is a REALLY bad statistic when that will include the likes of Bill Gates. I don't care what the top 400 in the country make but the median of them would be more meaningful to me if I did care.
  5. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    If you do not care, why post a comment???
  6. BelichickFan

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    #24 Jersey

    And why post yours, you snarky little nobody.

    If you read and understand you would see that I don't care what the top 400 make but that is different from being interested about the thread enough to post that I don't care about what the top 400 make; posting about the ambivalence towards the rich is perfectly appropriate in this thread.
  7. Real World

    Real World Moderator Staff Member

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    First off good for them. Second, are they hiring, and if not, do they have any pointers on how I can reach there? Third, what is the point of this thread? Are those people supposed to feel bad or something? Am I supposd to say "$#%^ them!"? Seriously, why the hate? People with large sums of money, will stand to make even larger sums of money, as a matter of simple mathematics. So long as they are making that coin legally, what do I care? Tiger Woods is worth $1 Billion. Tom Brady is worth somewhere inside of 9 figures. Arod will likely be closing in on a billion himself sometime soon. Who cares? I still put my pants on everyday, go to work, and enjoy life. Those people probably pay tens of billions, if not hundreds of billions in taxes (I don't have a calculator right now) anyway.
  8. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    I can understand 340 Million......but 345 !????


    come on?
  9. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    If there was actually such a thing as "class warfare" there would be no upper class...

    they dont have the #s
  10. Wolfpack

    Wolfpack Banned

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    There are over 300 million Americans. You have taken roughly the top 1.5% of the top 1% of the top 1%.

    If you want a real snapshot of a nation's strength economocially, don't isolate the top 1.5% of the top 1% of the top 1%. Look at the middle class; i.e. the median and the mean wage earner.

    Then if you are still reminded of Mexico, pass me some of what you're smoking.
  11. Leave No Doubt

    Leave No Doubt PatsFans.com Supporter PatsFans.com Supporter

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    Last edited: Feb 18, 2010
  12. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    :nono: You don't play well with others sometimes. :nono:
  13. Wolfpack

    Wolfpack Banned

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    You're right. No one ever shows any outrage of cigarettes and smoking. :rolleyes:
  14. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    You don't need anymore drugs, you can't read as it is. I said "If this keeps up" as in it hasn't happened yet. Straighten out and fly right.
  15. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Really you don't see any problem? Well i'd like to get the same tax breaks these people got, i'm sure you and everybody on this board would too. Me and you have to make up for the tax's they no longer pay.
  16. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Indeed, that is correct. I don't deny it :)
  17. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Me either, so i understand
  18. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I can't speak to the top 400 or to any actual individuals but the top 1% pay the highest overall tax rate and the pay 40% of the total income tax despite "only" having 23% of the total income.

    The Tax Foundation - Summary of Latest Federal Individual Income Tax Data

    Whether they should pay more is debatable but the top 1% paying 40% of the income tax is certainly a good amount.
  19. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    I don't feel like coming out to play tonight, i'm not in the mood, so you win. :singing:

    Mean while in a galaxy not so far away i'm sure Wolfie is banging away furiously on his key pad. :rolleyes:
    Last edited: Feb 18, 2010
  20. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I'm not sure anyone wins, not that anyone knows how much the rich should pay. I just like to remind people that with the top 1% paying 40% of the income tax that they aren't getting the free ride some claim - even if they have a good argument that they should pay more.

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