let it run through of force four hundred for yes
combined that within twenty twelve
for the richest people in the country one point seven trillion dollars well
uglier livan economic tough times so obviously that number must have gone
down in the last year
as it has for the median american family right
yeah raleigh n bob in twenty eleven it was one point five trillion is actually
gone up seen every in late
get angry for this when they saw the force four hundred in the year nineteen
eighty two
there come by net worth was only in ninety three billion dollars
went from ninety three billion
till one point seven trillion
share one of the rich are getting richer
if there's a clear enough for you
last year
that average net worth of the four of the richest americans was three point
eight billion
this year is four point two billion
the ritz temperature
and how about the admission into the forbes four hundred
well back in nineteen eighty-two analytic seventy five million free to
make a list does that amazing
if you have seventy five million dollars you're among the four hundred richest
people in the country in nineteen eighty
now right now i'm and i know you know it up for those of you crazy
in twenty twelve in order to make it on the list you have the apt to be a
billionaire one point one
billion dollars
share one of the risk of rich
are the reason for that is because they have manipulated the loss and
new tax
regulations for sure
to be able to keep more of their money
to pay less in taxes
and so i'll let me give you a sense of
where the tax rates go
the top one percent of income earners
raked in twenty three point nine percent of the tax breaks
rabbit run decide about all my god these guys if you want i don't know yet all
these
tax breaks for the bottom forty seven present us a little bit of a wireless
keyboard on will gets actual tax breaks
top ten percent of income earners rate than forty point three percent of the
tax breaks
so quick math for you here
bottom sixty percent of income earners raked in just twenty point one percent
of the tax breaks
to understand that
reveron missive forty seven percent of the country
they get it easy does it have to pay income taxes center
because they're getting all the breaks mcgovern
turns up no the bottom sixty percent leah twenty percent of the tax perks
the rest of it
goes the people that are well off
in fact as you just saw that
about sixty four percent of the tax breaks goes a top ten percent
stoic and what other it's got rich in outlook
there's a lot of great people on that list and it is good movement on the list
from time to time
it began all just get the exit tax raise any if anybody
dot it is a tax raises mitterrand as i've explained on the show multiple
times
heed to the advantage of so many tax loopholes deductions exemptions
and away the taxes on was structure in the first place it was pardoned parcel
how we need business
and bain capital
but a lot of people were on the force four hundred didn't get there because of
that you got all pray god delegation warren buffett
that and it now but even
as the
say warren buffett says
socio caleb i heard that i have the money in it
of course is happy about it is a cap was inside our appt but he says at the same
time why my paying less income taxes advice secretary
there's no justice in that
so the guys at the very top actually agree the problem is of course other
people not top ten including the coat brothers with a combined
net worth of sixty two
billion dollars
the walton family the six pairs of sam walton the guy who uh... founded walmart
better combine net worth about two hundred and
fifteen
billion dollars
they don't agree
they give a hundred percent icon finishes the republicans
and they spend a tremendous amount of money to make sure
that they continue to have
every single advantage whether it's deregulation
whether it's a wal-mart shifting the cost of their employees
who disproportionately on welfare food stamps and so why does walmart doesn't
and knowing that you know what another government payment
pays in those lower wages and of course on problem all that all the tax breaks
that they get
so is not the dog to the people being rich
goblets for four hundred
you know people what inspired that no issue with that whatsoever
but we've got to have some degree of justice
in how we do our regulations that are taxes cuz you gotta give everybody'd
opportunity get there