From our classroom discussion to the printing press this was released from the AP over the weekend:
The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992.
Still a bit selective in what data entry points they selected, the drop is nonetheless quite large and will undoubtably play a big role in the elections and the next budget.
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