Saturday, February 27, 2010

A snapshot of income disparity - latimes.com

A snapshot of income disparity - latimes.com: "'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.'

Between 2006 and 2007, according to the IRS, the average income of the country's 400 top taxpayers rose 31%, from $263.3 million to $344.8 million. At the same time, their effective income tax rate declined more than half a percentage point, from 17.17% in 2006 to 16.62% in 2007."

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