The 400 Richest Americans Pay An 18% Tax Rate - Robert Lenzner - StreetTalk - Forbes

The 400 Richest Americans Pay An 18% Tax Rate - Robert Lenzner - StreetTalk - Forbes: "The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam. Today, they pay 18% on the average, according to Steve Rattner, a Wall Street financier, who just presented these figures on Mornings With Joe,MSNBC.

The main reason for the drop in their tax rate of some 40% is the tax cuts by George Bush in 2003, taking the rate paid on dividends and capital gains down to 15%. This reduction in the investment class’s taxes powered the bull market in stocks from the fall of 2003 until the fall of 2007."