From ‘Wealthy’ To ‘Super Wealthy’, Income Tax Rate Goes DOWNJune 4, 2015 12:18 pm
We had spotted several stats on the rich and income taxes – We spotted this stat today:
“But new data out this spring from the IRS gives us a closer look of how the income tax works at the pinnacle of the income distribution — not just the top 1 percent, or even the top 0.1 percent, but among the rarified realm of the 0.01 and even the 0.001 percent. Those latter two categories are new in the IRS report this year, reflecting a growing public interest in the ultra-wealthy and their effects on the economy.
The IRS found that as you go from being merely wealthy (the 1 percent) to super-duper wealthy (the 0.001 percent), your average federal income tax rate actually goes down.”