Tweet [1]
The IRS just released some data [2]. One of the most interesting reported facts is this:
For tax year 2004…. Taxpayers with an AGI [adjusted gross income] of at least $328,049, the top 1 percent of
taxpayers, accounted for 19 percent of total AGI, representing an
increase in income share of 2.2 percentage points from the previous
year. These taxpayers accounted for 36.9 percent of the total income
tax reported, an increase from 34.3 percent in 2003 [emphasis added].
(HT: Andy Roth at the Club for Growth [3])