Here Is The “Wealth Effect”: Wealthiest 400 Americans Accounted For 16% Of All Capital Gains

HereIsThe "WealthEffect": Wealthiest 400 AmericansAccountedFor 16% OfAll Capital Gains

Hidden deep inside the IRS’ most recent annual report focusing on just the Top 400 Individual Tax returns, titled "The 400 Individual IncomeTaxReturnsReportingtheLargestAdjustedGrossIncomesEachYear, 1992-2009" we find the definitive confirmation of just where the Fed’s Wealth Effect has gone. As seen in the highlighted cell on the table below, justthetop 400 individual taxreturnsaccountfor a whopping 16% ofthenet Capital GainstaxpaidintheUSinallof 2009 (the most recent year recorded).

Putting this number in context, since 1992 the average percentage of the total capital gains attributable to the top 400 earners was "only" 8.69%. In 2009, or the year QE officially began, it was doulbe this or 16%.

One can’t wait for the 2010 update… or the 2011, 2012, 2013 and so on – all those "other" years in which the Fed’s "wealth effect" continued to benefit the capital gains of the Top 400…

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