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1 Scott A. Hodge, Official Statistics on Inequality, the Top 1 Percent, and Redistribution 1 (2014)

handle is hein.taxfoundation/taxfaaaa0001 and id is 1 raw text is: TAXe%
Official Statistics on Inequality, the
Jan. 2014       Top 1%, and Redistribution
No. 412
By Scott A. Hodge
Tax Foundation President
President Obama will reportedly focus much of his State of the Union speech on
addressing inequality and mobility in America. Undoubtedly, these issues will generate
a considerable amount of rhetoric by pundits and politicians on both sides of the aisle in
the days ahead. Much of this rhetoric will not be supported by data or facts.
In order to bolster this discussion with data, we've summarized some of the recent work
done on inequality and mobility by the Congressional Budget Office and the IRS. Links
are provided to the original source material.
Highlights of these reports include:
Inequality: CBO data shows that inequality today is slightly
higher than the average of the past thirty years but less that it
was during the last two years of the Clinton administration.
Progressivity: According to the CBO's progressivity index, the
federal tax code is as progressive today as it has been at any time
during the past thirty years.
The Top 1 Percent: The top 1 percent continues to pay a larger
share of the federal income tax burden than the bottom 90
percent combined.
Redistribution: Using 2006 data, CBO found that tax and
spending policies combined to redistribute $1.2 trillion in income
from the top 40 percent of non-elderly households to the bottom
60 percent of non-elderly households.
Mobility: IRS panel data that tracked the same group of taxpayers
between 1999 and 2007 showed that Americans can move from
one economic group to another fairly quickly.

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