IRS Publishes Popular “Top One” Data
Every year about this time, the IRS’s Statistics of Income Division publishes one of its most popular studies, a sorting of tax returns by adjusted gross income. We’ve kept a running tally for many years, and 2008’s data is now posted.
Since the economy was in recession throughout 2008, the data show income falling sharply for all income groups between 2007 and 2008, especially for the top-earning one percent of taxpayers, as business income dried up. It’s little consolation that this depressed income at the top end of the spectrum reduced income inequality, but it did do that.
Was this page helpful to you?
Thank You!
The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work?
Contribute to the Tax FoundationShare This Article!
Let us know how we can better serve you!
We work hard to make our analysis as useful as possible. Would you consider telling us more about how we can do better?
Give Us Feedback