Are Taxes Exceptionally Concentrated At The Top?
Publication Date: April 2004
Special Collection: John D. and Catherine T. MacArthur Foundation
Keywords: Tax code; Federal budget; Income diversity; Economic inequality
The Treasury Department recently released a fact sheet on who pays the federal income tax. The fact sheet makes two main points: that “the individual income tax is highly progressive — a small group of higher income taxpayers pay most of the individual income tax each year,” and that this burden has increased as a result of the tax cuts enacted under the Bush Administration.