See Link Above – Troubling Data Points
My info searches on taxes and the economy have led me to an excellent site run by a retired educator/administrator called www.decisionsonevidence.com. It’s a data-driven site that very effectively uses evidence to argue a balanced role for government. This post and the prior one I’ve copied verbatim from that site. The link is above.
Via Paul Bucheit:
“1. Only THREE PERCENT of the very rich are entrepreneurs.
According to both Marketwatch and economist Edward Wolff, over 90 percent of the assets owned by millionaires are held in a combination of low-risk investments (bonds and cash), personal business accounts, the stock market, and real estate. Only 3.6 percent of taxpayers in the top .1% were classified as entrepreneurs based on 2004 tax returns. A 2009 Kauffman Foundation study found that the great majority of entrepreneurs come from middle-class backgrounds, with less than 1 percent of all entrepreneurs coming…
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