Looking out for the top one percent!

Maybe I’ve missed some coverage, because the work/school schedule is reducing my news/blog-surfing time, but this story didn’t seem to attract much attention:

After falling for two years, the share of income going to the richest slice of Americans – the top tenth of 1 percent – grew significantly in 2003 while the share going to 99 percent of Americans fell, tax data released yesterday showed.

At the same time, the effective income tax rates paid by the top tenth of 1 percent fell sharply, declining at more than 10 times the rate reduction for middle-class taxpayers, the new report, by the Internal Revenue Service, showed.

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