We're Not Broke, Just Twisted: Extreme Wealth Inequality In America

We already know that the rich are getting richer, and the rest of us are not. But there is a lot of great information to be had from this video. For instance, if corporations paid their fair share in taxes, the additional tax revenue would total $485 billion.

We already know that the rich are getting richer, and the rest of us are not. But there is a lot of great information to be had from this video. For instance, if corporations paid their fair share in taxes, the additional tax revenue would total $485 billion.

From The Institute for Policy Studies:

Key Tax Facts

15,753: The number of households in 1961 with $1 million in taxable income (adjusted for inflation).

361,000: The number of households in 2011 estimated to have $1 million in taxable income.

43.1: Percent of total reported income that Americans earning $1 million paid in taxes in 1961 (adjusted for 2011 dollars)

23.1: Percent of total reported income that Americans earning $1 million are likely to pay in taxes in 2011, estimated from latest IRS data.

47.4: Percent of profits corporations paid in taxes in 1961.

11.1: Percent of profits corporations paid in taxes in 2011.

There's so much more information in the video that it's well worth watching. You can also read the article posted with the video on Youtube.

About Diane Sweet

Diane Sweet's picture
Senior Editor, Lives in a gerrymandered district in Michigan.

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