Kiyanna Elliott The rich are paying more in taxes, but not as much as they used to

Summary: The rich are now paying more in taxes, but they are still paying less than they did in the mid-1990s. The Top 1% paid an average 27% of their income in federal taxes in 2013, the highest rate since 2002, according to data from the IRS, but in 2012, they only paid 22.8%. The average tax rate for the Top .01% rose to 26.2% in 2013, up from 19.5% the year in 2012. The rich used to pay a whole lot more in taxes. Prior to 1997, the tax rate was 28%. Martin Sullivan, chief economist of Tax Analysts, says going from 15% to 23.8% is a "significant tax increase". Still, some want the wealthy to shoulder an even larger burden, which they say would help reduce income inequality.

Analysis: I thought it was only fitting to find an article that discussed the wealthy since in the Gilded Age the emergence of rich individuals begin to occur. There was a much earlier article I remember reading about that discussed the disappearance of the middle class. I think this also ties into this article and the Gilded Age. It seem that even after centuries since the beginning of mass wealth that they tend have it easier in some way. There is some way there are about to work something into their favor. In this case it is taxes. Given that there is a governmental aspect to this also, but the rich have a lot of influence when it comes to getting what they want and using the government is not excluded.

Source: http://money.cnn.com/2016/01/11/news/economy/rich-taxes/index.html?category=home