Wealth
Menstuff® has compiled the following on Wealth.
IRS: Richest Got Richer (6/26/03)
America's richest got richer between 1992 and 2000, according to an
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 percent of their income to federal
income taxes, down from 26.4 percent in 1992.
The richest 400 made 1.09 percent of U.S. income in 2000, more
than double the percentage in 1992, when they accounted for just 0.52
percent, the IRS said.
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