

The 1% doesn't stay the 1% for long - hawkharris
http://money.cnn.com/#!/articles/2014/03/26/pf/taxes/high-income-taxpayers.json?category=Latest News

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zorse
Economist Thomas Sowell talks about this at length in his book economic facts
as fallacies. He points out its foolish to make policy decisions based on what
% of the national income each economic quintile made, because the people
within those quintiles are constantly moving from one to another. A person who
made 500k/year for 40 years drops down into the lowest quintile when retired,
though that person is by no means poor.

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friendcomputer
Yeah, this is not news to anyone who looks beyond the surface level income
figures. Unfortunately, journalists fail us comprehensively in this regard.
It's a shame because there are some very interesting things to talk about once
you look at lifetime gross income and the trajectory people take through life.

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tinalumfoil
Is anyone else just getting sent to CNN Money's Home Page? I can't seem to
reach the article.

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clarkm
Yep. But I also use Ghostery and ABP, so I figured it was just me.

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nahname
>They may have a bad year on their investments and claim losses, which can
offset their capital gains.

They hired an account and learned how to hide the majority of their income?

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greghinch
"Indeed, the federal tax return offers no clue to a person's net worth."

Kind of takes the wind out of what the title is getting at

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nahname
This link works. [http://money.cnn.com/2014/03/26/pf/taxes/high-income-
taxpaye...](http://money.cnn.com/2014/03/26/pf/taxes/high-income-
taxpayers/index.html?iid=HP_LN)

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Mz
Closing remarks:

 _...there 's a lot less fluctuation in the top ranks of the wealthy than
there is among the highest income households.

Bill Gates' income in any given year may be topped by that of a hedge fund
manager, Williams noted. But his wealth remains vast enough to keep him among
the world's richest for a very long time._

