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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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