Is the effective federal tax rate on the top 1% of income earners now higher than it has been on average for the past 35 years?
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According to the Congressional Budget Office's latest estimates of federal tax burdens, the top 1% of income earners paid an average effective tax rate of 33% in 2013. For comparison, the average effective tax rate on the top 1% of income earners over the previous 35 years was 30%. "Effective tax rates" account for all taxes and all income, unlike the incomplete tax rates often reported by the media.
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