1-1-2013
http://finance.yahoo.com/news/richest-400-people-america-got-201519751.html
How the Richest 400 People in America Got So Rich
According to the IRS, which recently released 2009 data from the 400 richest individual income tax returns, the real runaway growth in wealth has come from capital gains. In the last years of the bubble, the "Fortunate 400" made nearly half their income from capital gains (a.k.a.: profit from the rising value of an investment, such as stocks or property) and less than 10% of their income from old-fashioned wages.
The average income of a top-400 earner grew by 650% between 1992 and 2007 to a whopping $344 million. Over that time, the average salary didn't even double. But the average capital gains haul increased by 1,200%. So how do the richest get richer? Not from their wages. From their investments
Who are these people?
Four in ten in this group were executives, managers, and supervisors at nonfinancial firms. Eighteen percent were financiers. Next came law (7 percent), medicine (6 percent), and real estate (4 percent).
Remember that as this is happening, the long-term capital gains tax rate has fallen from 28 percent in 1990 to 20 percent for the latter half of the 1990s to 15 percent under George W. Bush.
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Update on how the Billionaires did in 2012
1-4-2013
http://finance.yahoo.com/blogs/dail...ncreases-wealth-22-2b-2012-182819240.html?l=1
Top 100 Billionaires add $241 Billion in 2012
The world’s billionaires added a lot more zeros to their bank accounts in 2012.
According to the Bloomberg Billionaires Index, the 100 richest people around the globe boosted their net worth by a collective $241 billion over the last 12 months. As of Dec. 31, 2012, these tycoons controlled a combined $1.9 trillion of the world’s wealth.
Microsoft Co-Founder Bill Gates took the No. 3 spot in 2012, raking in $7 billion after Microsoft’s shares rose 2.9% last year
Berkshire Hathaway Chairman Warren Buffett also had an extremely lucky year. The 82-year-old increased his wealth by $5.1 billion in 2012.
http://finance.yahoo.com/news/richest-400-people-america-got-201519751.html
How the Richest 400 People in America Got So Rich
According to the IRS, which recently released 2009 data from the 400 richest individual income tax returns, the real runaway growth in wealth has come from capital gains. In the last years of the bubble, the "Fortunate 400" made nearly half their income from capital gains (a.k.a.: profit from the rising value of an investment, such as stocks or property) and less than 10% of their income from old-fashioned wages.
The average income of a top-400 earner grew by 650% between 1992 and 2007 to a whopping $344 million. Over that time, the average salary didn't even double. But the average capital gains haul increased by 1,200%. So how do the richest get richer? Not from their wages. From their investments
Who are these people?
Four in ten in this group were executives, managers, and supervisors at nonfinancial firms. Eighteen percent were financiers. Next came law (7 percent), medicine (6 percent), and real estate (4 percent).
Remember that as this is happening, the long-term capital gains tax rate has fallen from 28 percent in 1990 to 20 percent for the latter half of the 1990s to 15 percent under George W. Bush.
========================================================
Update on how the Billionaires did in 2012
1-4-2013
http://finance.yahoo.com/blogs/dail...ncreases-wealth-22-2b-2012-182819240.html?l=1
Top 100 Billionaires add $241 Billion in 2012
The world’s billionaires added a lot more zeros to their bank accounts in 2012.
According to the Bloomberg Billionaires Index, the 100 richest people around the globe boosted their net worth by a collective $241 billion over the last 12 months. As of Dec. 31, 2012, these tycoons controlled a combined $1.9 trillion of the world’s wealth.
Microsoft Co-Founder Bill Gates took the No. 3 spot in 2012, raking in $7 billion after Microsoft’s shares rose 2.9% last year
Berkshire Hathaway Chairman Warren Buffett also had an extremely lucky year. The 82-year-old increased his wealth by $5.1 billion in 2012.
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