So just 6 people have more wealth than over 90 MILLION and they pay a LOWER tax rate than half of them?
And the republican party fights to cut their taxes even more as they EXPORT jobs to China. How can you defend that?
* The majority of their wealth is from capital gains... and that is taxed half as much as your paycheck.
http://news.yahoo.com/six-waltons-more-wealth-bottom-30-americans-182819449.html
http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
@arthur... no capital gains refers to the PROFIT not the principal. I have included a link that discusses capital gains. Also your info about what you think you know about your parents income taxes isn't reliable. Not calling you a liar... but I doubt you know all the facts... for example... what deductions they had. That matters.
Again... capital gains means a PROFIT... all the bills are paid. And in most cases the people collecting the money are NOT doing any of the work. They own stocks.... that's it.
It is not a capital tax... it is a capital GAIN tax.