TaxRevo Fun Fact
In light of the rhetoric surrounding the 2016 Presidential Election, TaxRevo offers four fun facts about the taxing of wealthy Americans:
- The richest 1% of Americans own 35% of the nation’s wealth. The bottom 80% own just 11% of the nation’s wealth.
- In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%. Today, the top rate is 43.4%.
- There were 1,470 households who reported income of more than $1 million in 2009 but paid zero in federal income taxes.
- CEOS of major corporations earn nearly 300 times more than an average worker.