IRS Report Confirms Rich Are Getting Richer
From Times Wire Reports
America’s richest got richer between 1992 and 2000, according to a new Internal Revenue Service report.
The adjusted gross income of the country’s top 400 taxpayers totaled almost $70 billion in 2000, according to the IRS, for an average of $173.9 million.
The richest 400 in 1992 accumulated just under $19 billion, for an average of only $46.8 million.
Over the nine-year period, the minimum adjusted gross income to get on the top 400 list more than tripled, from $24.4 million to $86.8 million.
In 2000, the 400 paid 22.3% of their income to federal income taxes, down from 26.4% in 1992.
