Income Inequality

Relatively Hard Times

By and on December 01, 2011

Income Inequality

Relatively Hard Times

According to an IRS analysis of 2009 tax returns, the rich aren’t doing as well as they were a few years back. The number of taxpayers with an adjusted gross income of $10 million or more dropped 55 percent from 2007 to 2009, to about 8,200 taxpayers. Their collective income fell to $240 billion in 2009 from $562 billion two years earlier.

Graphic by Bloomberg Businessweek; Data: Internal Revenue Service, World Top Incomes Database, Data compiled by Bloomberg
Tanzi covers economic data for Bloomberg News in Washington. Applegate is a graphics editor for Bloomberg Businessweek. Follow him on Twitter @evanapplegate.
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