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The Income and Tax Share of Very High Income Households, 1960-1995

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Author Info
Daniel R. Feenberg
James M Poterba

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Abstract

This paper presents new information on the fraction of adjusted gross income, and of wages and salaries, that is reported by taxpayers in the top one half of one percent of the income distribution. This corresponds to roughly five hundred thousand households in the late 1990s. This paper relies on data from the Treasury's Individual Income Tax Model for the period 1960-1995. The definition of adjusted gross income is standardized, so that changes in the tax law do not affect the measured concentration of AGI. The results suggest that the share of AGI reported by the highest income households increased significantly between the early 1980s and the mid-1990s, with most of the increase taking place in the years immediately following the Tax Reform Act of 1986. While we find some evidence of transitory changes in the concentration of income around major tax changes, which may be the result of income retiming by high income taxpayers, re-timing does not seem to explain most of the changes since 1986.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7525.

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Date of creation: Feb 2000
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Handle: RePEc:nbr:nberwo:7525

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Find related papers by JEL classification:
H2 - Public Economics - - Taxation, Subsidies, and Revenue
D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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  1. Roger H. Gordon & Joel Slemrod, 1998. "Are "Real" Responses to Taxes Simply Income Shifting Between Corporate and Personal Tax Bases?," NBER Working Papers 6576, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Joel Slemrod & Jon Bakija, 2000. "Does Growing Inequality Reduce Tax Progressivity? Should It?," NBER Working Papers 7576, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Feenberg, D.R. & Poterba, J.M., 1992. "Income Inequality and the Incomes of Very High Income Taxpayers: Evidence from Tax Returns," Working papers 92-16, Massachusetts Institute of Technology (MIT), Department of Economics.
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  4. Brian J. Hall & Jeffrey B. Liebman, 1998. "Are CEOs Really Paid Like Bureaucrats?," The Quarterly Journal of Economics, MIT Press, vol. 113(3), pages 653-691, August. [Downloadable!] (restricted)
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  5. Austan Goolsbee, 2000. "Taxes, High-Income Executives, and the Perils of Revenue Estimation in the New Economy," NBER Working Papers 7626, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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