- ProPublica’s analysis of secret IRS files found that the 400 highest-earning Americans (2013-2018) earned $110M/yr (avg) while only paying an average income tax rate of 22%.
- While the US has a progressive tax rate, the super-rich pay well below the top rate because most of their income derives from stock sales and dividends taxed at rates lower than wages.
- The top 11 earners (eg Bill Gates, Bloomberg) took home at least $1B per year.
- No athletes or entertainers were in the top 400.
