Economy

Tax Rates For Millionaires Have Fallen 25 Percent Since 1995

The Center for American Progress’ Seth Hanlon took a look at new IRS data and found that “as a percentage of their incomes, millionaires are now paying about one-quarter less of their income to federal taxes than they did in the mid-1990s”:

“Millionaires paid an average tax rate of 22.4 percent in 2009, down by a quarter since 1995, when they paid an average of 30.4 percent,” Hanlon noted.

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