If, for example, there are 10 people who are in a high income bracket, each earning $500,000 a year, while there are also 10 people in a lower income bracket, each earning $50,000 a year, it might seem as if there is a ten-to-one difference in income between people in these two brackets. But, if only one of the ten people in the higher bracket is earning $500,000 every year in a decade, while the others are there for just one year each in that decade—the year in which their accrued capital gains are turned into cash income—then, given the very high rate of turnover in very high income
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