Following up on the JLM's report below on the Fortunate 400, here's Tom's Herman's Tax Report on the same subject. Noteworthy bits:
• The top 400 had an AGI of $85.6 billion.
• Wages and salaries were just 8.6% of this total.
• As a group they gave $7.56 billion to charity
• 6.89% of AGI was from dividends, 6.7% from taxable interest. Tax-free interest is not reported.
• The big number is net capital gains of nearly $50 billion, representing 58% of AGI.
The report is based upon 2005 data, a pretty good year for stocks.
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