Friday, July 23, 2010

The Great Recession Cuts Incomes Big Time

NYT with the details:

A newly released report by the Internal Revenue Service shows that, for Americans as a group, total income fell at the fastest pace in decades in 2008, and that the number of tax returns reporting at least $1 million in income plunged by 22 percent as the Great Recession took hold.

[Curiously,]there were still 13,480 tax returns that reported income of more than $10 million in the year. 
Among them were 462 returns that reported some income from gambling. Their total income from that source was $2.6 billion, for an average of $5.6 million per return.


  1. At last, I know what my new career must be. Las Vegas, here I come.

  2. Why do you need to go to Vegas? Just open a brokerage account.