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America’s Newest Aristocracy

by Jack Stapleton, Jr.

by Jack Stapleton, Jr.

In feudal times and up to the end of the 1800s, the aristocrats of America paid no taxes. Peasants and merchants did.

Economist Richard Kogan brings up this historic tidbit in relation to the latest statistics on the income and taxes of the rich in the United States. His figures show that the inequality of incomes continued to grow through the 1990s.

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