Mercatus Center Research Fellow Veronique de Rugy examines the income dynamics of taxpayers with millionaire status using data calculated from IRS tax returns from 1999 through 2007. The data represent 675,000 taxpayers who were millionaires at some point during this period.
In contrast to popular sentiments about the rich getting richer and poor getting poorer, this [...]
There was a wonderful article in the Wall Street Journal this weekend on the ultra (über, hyper, 1%) rich. The article (“The Wild Ride of the 1%“) discusses the volatility of wealth of the top 1% income earners in America. The author, Robert Frank, reveals that these people’s income and wealth have become much more unstable [...]