Tax rates for the rich dropped most — study finds

NY Times: Tax Cuts Offer Most for Very Rich, Study SaysFamilies earning more than $1 million a year saw their federal tax rates drop more sharply in 2004 than any group in the country.

The study, by the nonpartisan Congressional Budget Office, also shows that tax rates for middle-income earners edged up in 2004, the most recent year for which data was available, while rates for people at the very top continued to decline.

I finished reading this month The great American tax dodge : how spiraling fraud and avoidance are killing fairness, destroying the income tax, and costing you by Donald L. Barlett and James B. Steele so I was already feeling a little put out about income taxes.

Link to the Congressional Budge Office report.

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