The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Super Rich Double Rich

Mar 29, 2010

According to the IRS, in 2007 the average income of the 400 richest taxpayers – an incredible 357 million dollars – was five times higher than it was in 1995. This fantastic enrichment of the biggest bourgeoisie came from blazing exploitation of the working class.

On top of that, the government lowered the tax rate on the very rich. In 1995, the richest 400 paid 30% of their income in taxes, while by 2007 they paid only 17%, cut almost in half. This bonanza for the rich was instituted by both political parties, the Democrats under Clinton and the Republicans under Bush. It makes this tax season all the more bitter.