U.S. Income Tax Policy Is Mostly About the 1%: Justin Fox

There have been some major changes to the U.S. individual income tax code over the past two decades — notably the tax cuts of the early 2000s, their partial rollback in 2012 and the 2017 tax reform/cuts. The net result of them all is maybe not what you’d expect: federal income tax rates fell for every income group since 2001, with the very highest earners seeing the smallest decline (in percentage terms at least) and those with incomes in the 50th to 60th percentiles down the most.

The Internal Revenue Service releases these numbers late every year with an almost two-year ...