Get a load of this ...

400 individuals earn 10% of all capital gains in the U.S.

Wow.

Paul Krugman:

One of the more interesting documents published by the IRS — I know, I know, not the hardest criterion in the world — is its report on the income and taxes of the top 400 taxpayers (pdf). A lot of attention gets focused, rightly, on the remarkably low average tax rate these people pay — less than 17 percent in 2007, the lowest on record.

But I was struck by something else: in several years during the last decade the top 400 accounted for more than 10 percent of all capital gains income in America. Just 400 people!

You don't have to posit a Bilderberg Club, or whatever, to realize that these guys all know each other and hang out together. It's a whole lot easier for a couple dozen billionaires to get coordinated than millions of Democrats. The billionaires can do it after golf.

By the way, I'm willing to bet the guys at the IRS who released that report will be getting a little phone call. Any takers?