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Even in a Down Year, Top 1% Had More Total Income than Bottom 50%
The total adjusted gross income (AGI) of the top 1 percent of households in 2009 was 25 percent greater than the total AGI of the bottom 50 percent of households, new IRS data show (see graph)....
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Income Growth at the Top Mostly Occurring at the Tippy-Top
As our new report on the latest analysis of IRS data by economists Thomas Piketty and Emmanuel Saez shows, the share of before-tax income going to the top 1 percent of households rose in 2010 (the...
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Thinking About Tax Policy, Part 2: Taxes Today Are Low
Yesterday’s post in this series explained why the nation’s unsustainable budget deficits must be in the forefront of any tax reform discussions. That means we’ll need to raise enough additional...
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Ryan Budget Would Raise Some Taxes; Guess Who Gets Hit?
You’ve undoubtedly heard lots about how House Budget Committee Chairman Paul Ryan’s budget plan would give millionaires an average $265,000 apiece in new tax cuts, on top of the $129,000 apiece they...
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Thinking About Tax Policy, Part 4: Ryan Plan a Costly Step in the Wrong...
This series has explained why we need to raise more revenue and why it makes sense to start at the top of the income scale. The budget from House Budget Committee Chairman Paul Ryan goes in exactly...
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