According to an OECD report published on 30 April 2014, the share of the richest 1% in total pre-tax income has increased in most OECD countries over the past three decades.
According to an OECD report published on 30 April 2014, the share of the richest 1% in total pre-tax income has increased in most OECD countries over the past three decades. This rise is the result of the top 1% capturing a disproportionate share of overall income growth over that timeframe: up to 37% in Canada; and 47% in the United States. Tax reforms in almost all OECD countries over the past 30 years have substantially cut top personal income tax rates, the average rate in OECD falling from 66% in 1981 to 43% in 2013. Other taxes which play a role for top incomes were also lowered: the average statutory corporate income tax rate declined from 47% to 25%; and taxes on dividend income for distributions of domestic source profits fell from 75% to 42%.
According to an OECD report published on 30 April 2014, the share of the richest 1% in total pre-tax income has increased in most OECD countries over the past three decades.
According to an OECD report published on 30 April 2014, the share of the richest 1% in total pre-tax income has increased in most OECD countries over the past three decades. This rise is the result of the top 1% capturing a disproportionate share of overall income growth over that timeframe: up to 37% in Canada; and 47% in the United States. Tax reforms in almost all OECD countries over the past 30 years have substantially cut top personal income tax rates, the average rate in OECD falling from 66% in 1981 to 43% in 2013. Other taxes which play a role for top incomes were also lowered: the average statutory corporate income tax rate declined from 47% to 25%; and taxes on dividend income for distributions of domestic source profits fell from 75% to 42%.
