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

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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