As Food Stamp Recipients Hit New Record, 400 Americans Account For 10% Of Capital Gains

[stockholmer]

http://www.zerohedge.com/article/food-stamp-recipients-hit-new-record-400-americans-account-10-capital-gains

"Today SNAP released the most recent food stamp numbers. And not surprisingly, we just saw another all time high 44.2 million poverty-level Americans relying on government funding for day to day sustenance. Granted the number appears to be plateauing, so all those who bought the change if not the hope, may started declining next month: a development that is sure to be trumpeted by the media as guaranteeing Obama a 4th Putin-esque term.

That said, another number that has to be kept in perspective and for which we have to thank none other than Pauly-K is that offsetting these 44.2 million of impoverished Americans who can get a tax refund for writing off the American dream, are 400 Americans who accounted for 10%, or $91 billion of total, in capital gains taxes, or said otherwise, 400 US taxpayers account for 10% of all capital gains! We are currently going through old issues of Pravda to see if the Communist empire ever achieved this kind of social disparity between the nomenklatura and the proletariat (it didn't). If we find confirmation we will post it, and lose a sizable bet which will certainly deny us any possibility of every being among the abovementioned 400.



And second, at a factor of 110,500 to 1, here are the 400 people who not only account for 10% of all US capital gains taxes http://krugman.blogs.nytimes.com/2011/04/30/who-benefits-from-bubbles/ (Taleb was right), but end up paying a whopping (sarcasm inluded) 17% in taxes on it.............................................."

snip

[OhioChick]

1. K&R n/t

[girl gone mad]

2. k & r

[leftstreet]

3. K&R

[xchrom]

4. Recommend

[RagAss]

5. Well then it's obvious...we need to cut these food stamps.