Press Releases | Budget, Taxes, and Public Investment

News from EPI Taxes on the wealthy have gone down dramatically

For Immediate Release: Thursday, April 14, 2011
Contact: Phoebe Silag or Karen Conner, 202-775-8810

With Tax Day fast approaching and deficit reduction all the rage, one fact deserves significant attention: the wealthy are enjoying the some of the lowest taxes in generations.  Today’s Snapshot shows that since 1979, the country’s overall average tax rate—the share of income paid in taxes—has fallen slightly, but for those at the top of the earnings ladder this share has fallen dramatically.  See the graph and full Snapshot here.