Thinkprogress.org (July 23, 2008)

According to IRS data, “the richest 1% of Americans in 2006 garnered the highest share of the nation’s adjusted gross income for two decades” and “possibly the highest since 1929.” Meanwhile, “the average tax rate of the wealthiest 1% fell to its lowest level in at least 18 years.” (Wall Street Journal 7/23/08)