Federal Judge Shuts Down Lawsuit Against Trump's 'Anti-Weaponization Fund'
Stop Destroying Civilization!
FBI Arrests First Suspect on 'Most Wanted Fraudsters' List
The White House Fraud Task Force Just Pulled Tens of Millions From Los...
Sen. John Kennedy Just Delivered a Brutal Two-Minute Roast of Graham Platner
Secretary Markwayne Mullin Vows to 'Move Heaven and Hell' to Find Lost Migrant...
The Secretary of War Has a Warning for Iran's Remaining Leadership
President Trump Reveals How He Helped Secure Steve Hilton's Primary Victory in CA
This European World Cup Fan Discovers the Wonders of America's Southern Hospitality
Trump Reveals Why He's Canceling Iran Strikes
The Next Big Funding Bill Is About to Hit Congress. Here's Why Trump...
Pentagon on Lockdown Over 'Hazmat Incident'
Female Wrestler Sexually Assaulted on the Mat by a Man Competing As a...
Foreign Surveillance Vote Fails in House Despite Trump's Push for Extension
Dawn or Twilight? America at 250
OPINION

Income goes up...especially for the rich

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Income goes up...especially for the rich

After two years of declines, Americans' income finally rose in 2010. The Internal Revenue Service provided a first peek at taxpayers' returns and it showed that adjusted gross income totaled $8 trillion, up 5.2% from 2009.

Advertisement

But a closer look at the data reveals that only the wealthiest Americans will be popping the Cristal.

Taxpayers earning more than $250,000 saw their total adjusted gross incomes rise by 13.8%, while those bringing home between $200K and $250K enjoyed at 6.7% increase, according to a CNNMoney analysis.

Middle-class Americans? Not so fortunate. Those making between $50K and $100K saw their incomes creep up only 1.5%.

Part of the imbalance comes from differences in the growth of wages, the largest component of adjusted gross income.

Overall, salaries and wages grew 2.1%. But the super-rich saw an 11.2% hike, and those just below them enjoyed a 4.6% increase.

But the middle class saw a drop of 0.7% in wages.

And while capital gains rose healthily for most income brackets, the wealthiest taxpayers benefited from a 37.6% hike, and those in the bracket below pocketed 32% more. Middle-income folks saw only a 19.8% increase.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement