The Wealthiest Now Have the Lowest Tax Rate

The 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, the New York Times reports.

“That’s a sharp change from the 1950s and 1960s, when the wealthy paid vastly higher tax rates than the middle class or poor. Since then, taxes that hit the wealthiest the hardest — like the estate tax and corporate tax — have plummeted, while tax avoidance has become more common.”