Millionaires’ Effective Tax Rate Has Been Cut by Half Since Mid-20th Century

Between 1945 and 1980, households with a $1 million income or more paid effective tax rates as high as 60 percent.

Millionaires are currently being taxed at half of the effective tax rate they were paying in the mid-20th century, a new report finds, as the tax code has become increasingly regressive and wealth inequality has reached record highs in recent years. In an analysis released on Tax Day, Americans for Tax Fairness found that Americans with incomes of $1 million or more are effectively being taxed at...

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This post was originally published on Latest – Truthout.


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Sharon Zhang | radiofree.asia (2024-05-05T14:09:04+00:00) » Millionaires’ Effective Tax Rate Has Been Cut by Half Since Mid-20th Century. Retrieved from https://radiofree.asia/2024/04/16/millionaires-effective-tax-rate-has-been-cut-by-half-since-mid-20th-century/.
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" » Millionaires’ Effective Tax Rate Has Been Cut by Half Since Mid-20th Century." Sharon Zhang | radiofree.asia - Tuesday April 16, 2024, https://radiofree.asia/2024/04/16/millionaires-effective-tax-rate-has-been-cut-by-half-since-mid-20th-century/
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" » Millionaires’ Effective Tax Rate Has Been Cut by Half Since Mid-20th Century." Sharon Zhang | radiofree.asia - Accessed 2024-05-05T14:09:04+00:00. https://radiofree.asia/2024/04/16/millionaires-effective-tax-rate-has-been-cut-by-half-since-mid-20th-century/
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" » Millionaires’ Effective Tax Rate Has Been Cut by Half Since Mid-20th Century." Sharon Zhang | radiofree.asia [Online]. Available: https://radiofree.asia/2024/04/16/millionaires-effective-tax-rate-has-been-cut-by-half-since-mid-20th-century/. [Accessed: 2024-05-05T14:09:04+00:00]
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» Millionaires’ Effective Tax Rate Has Been Cut by Half Since Mid-20th Century | Sharon Zhang | radiofree.asia | https://radiofree.asia/2024/04/16/millionaires-effective-tax-rate-has-been-cut-by-half-since-mid-20th-century/ | 2024-05-05T14:09:04+00:00
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