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Replace All Federal Taxes on Income with the Fair Tax Act , HR 25

IRS Collections Report Reveals Frightening Data About Top 400 Taxpayers

IRS Collections data for the Top 400 Taxpayers reveals several some frightening, but very predictable effects from government's attempt to "Soak the Rich". The rich are leaving.

Ok. It doesn't say that in so many words. But here are just a few of the important things that it does say.

  • The entry level for the Top 400 Taxpayers dropped by almost a third, between 2008 and 2009.
  • The average income for the Top 400 Taxpayers dropped by more than 25% in that time. Can you imagine making 25% less next year, than you made this year?... And that's before taxes.
  • Even though their income went down, the Real Tax Rate for the Top 400 increased by almost 10%, from 2008 to 2009.

But the most important part of all this is what isn't said.

While billionaires around the world are getting richer, either our billionaires are getting poorer or they're moving offshore and becoming foreign billionaires. So do you believe that our billionaires are suddenly not as smart as the rest of the world's billionaires? In fact, it's a lot more likely that the reduced amount of money being made by the Top 400 is the result of a number of those Top 400 moving offshore, making room at the bottom of the list for new members, who don't earn quite as much as those who left.

After all, the more the make, the more they're punished for their success. Why wouldn't they leave?

To see highlights from that IRS report on the Top 400 Taxpayers go to:

http://therichdontpaytax.com/400updt09.html

You can also download the entire IRS Top 400 Report (PDF) there as well.

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