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IRS Data Shows Richest Get Richer & See Their Income Tax Rates Drop

Pulitzer Prize-winning Tax Notes reporter David Cay Johnston has a big scoop (subscription required): The incomes of the top 400 American households soared to a new record high in dollars and as a share of all income in 2007, while the income tax rates they paid fell to a record low, newly disclosed tax data show. In 2007 the top 400 taxpayers had an average income of $344.
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REPORT: In 12 Years, Income For Richest 400 Americans Quadruples, Tax Rate Nearly Halved

US Politics / Liberal : Think Progress (3 years ago)

New data released by the IRS reveals that, over a period of 12 years, tax rates for the richest 400 Americans were effectively cut in half. In 1995, the richest 400 Americans paid, on average, 29.93% of their income in federal taxes... Read Post

Chart: As Top Tax Rates Dropped, Top Incomes Soared

US Politics / Liberal : Political Mojo (45 minutes ago)

We're still posting a new chart on the current state of income inequality every day over the next week. Yesterday's looked at how the top 1 percent of Americans have captured half of all income. Today, let's talk taxes. In the past ... Read Post

Tax Rates For America's Top 400 Earners Fell As Income Soared In 2007, According To IRS

Business & Finance : Huffington Post: Business Blog (5 years ago)

The incomes of the top 400 American households soared to a new record high in dollars and as a share of all income in 2007,... Read Post


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