Posts Tagged ‘top one percent’

Income Inequality, Tax Regressivity are Worse Than We Thought

There has long been convincing evidence—both at the state and national levels—that income inequality has accelerated in recent decades, with an increasing share of wealth concentrated in fewer and fewer hands. Extreme income inequality—coupled with stagnant or declining real wages—undermines a consumer economy, since working families are less able to purchase the goods and services…

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Federal Estate Tax Conformity: A Big Win for Über-Rich

By ensuring that extremely high-income households pay state and local taxes at a rate approaching that of other Minnesota households, the estate tax does more, dollar for dollar, than any other tax to reduce tax regressivity in Minnesota. Conservatives want to dramatically reduce Minnesota’s estate tax by conforming to federal law, which would have the…

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Income Inequality on Steroids: The Top of the Top 1%

Minnesota is no exception to the national trend of rising income inequality. Previous installments in this series have shown the concentration of income at the top of Minnesota’s income spectrum and the growing gap between the top one percent and middle-income households, especially after adjusting for inflation. However, to fully understand the extent to which…

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Rich Get Richer, Middle Class Not So Lucky

The growing income gap between the top one percent and the less well-off has been documented many times, most recently in two North Star articles. The first of these articles used data from Minnesota Tax Incidence Studies (MTIS) spanning the last quarter century to demonstrate the increased concentration at the top of Minnesota’s income spectrum,…

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Growing Income Gap Between the Top and the Middle

Information from the biennial Minnesota Tax Incidence Study (MTIS) confirms in greater detail what was already known in a broad sense—income inequality in Minnesota is increasing over time. Using data from the thirteen published Incidence Studies, part 1 of this series documented the increased concentration of income among the five percent of households with the…

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