#top 400

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Bask In The ‘Diverse’ Glory Of The Average Face Of America’s Top 400 CEOs (GIFS)

Bask In The ‘Diverse’ Glory Of The Average Face Of America’s Top 400 CEOs (GIFS)

Finally, we can put to rest that myth about the level playing field you’re always hearing about. One look at the graphic below will show you the level of equality in the grand old U.S. of A. Just look at the diversity and eat your heart out affirmative action! Clearly, America is solid in the systemic racism department. How else would you see such a range in the typical faces of the top 400 CEOs…

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The Fortunate 400

The annual report, which the IRS typically releases with a two-year delay, covers the 400 tax returns reporting the highest incomes in 2009. These families reported an average income of $202.4 million, down for the second year as the Great Recession slashed their capital gains. Six of them paid no federal income tax in 2009.

In addition to the six who paid no tax, another 110 families paid 15 percent or less in federal income taxes. That’s the same federal tax rate as a single worker who made $61,500 in 2009.

Overall, the top 400 paid an average income tax rate of 19.9 percent, the same rate paid by a single worker who made $110,000 in 2009. The top 400 earned five times that much every day.

Just 82 of the top 400 were taxed in accord with the Buffett rule, which proposes a minimum tax of 30 percent on annual incomes greater than $1 million.

The fortunate 400 paid the same tax rate as those who made $200,000 - $500,000 even though they made an average of $544,000 in a single day.