Thursday, April 14, 2011

Income Tax Down for Wealthy

Inncome Taxes Down for Wealthy

“The wealhy are enjoying some of the lowest taxes in generations,” according to a report issued April 14 by the Economic Policy Institute (EPI).

Although the nation’s overall tax rate – the share of income paid in taxes – since 1979 has fallen slightly, the share for those at the top income ladder (the top 400 families) has fallen dramatically, says EPI. The report is based on data from the Congressional Office and the Internal Revenue Service.

See previous posting on the “two-level” tax policy which investors also get rewarded with tax breaks.

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