Forbes 400 Wealth more than doubled over the last decade while Their Tax Rates Dropped

The wealthy are looting America. And they are doing it with the blessing of both parties:

The share of wealth held by the Forbes 400 more than doubled from $1.27 trillion in 2009 to nearly $3 trillion this year. That marks a significant increase encouraged by a combination of sliding tax rates, stock market growth, and the economic recovery, according to Gabriel Zucman, an economist at the University of California, Berkeley.

…The amount of taxable income for the wealthiest group of US citizens dropped from 27% in 2009 to around 23% this year, the first time they were effectively taxed lower than the nation’s working class, Business Insider reported last month.

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