Today’s super rich are doing fantastically better, both before and after taxes, than when D&S was founded 35 years ago. In 2006, the top 400 averaged an astounding $263 million each in income, and paid just just 17.2% of their incomes in federal tax. Read more »
A friend once told us that when he first took economics courses, he thought the constant discussion of “the Fed” referred to people who had enough to eat. He kept waiting to hear about “the Unfed.” If he had been starting economics this semester, he could easily have gone on to conclude that the Fed’s goal is to increase the ranks of the Unfed. Read more »