Total income reported on the top 400 individual tax returns rose 20% in 2014
.. in a club that required $126.8 million of adjusted gross income to enter. That group, out of nearly 150 million tax returns in 2014, received 1.3% of income and 10% of capital gains that get preferential rates. The same 400 households also made 6.9% of all charitable contributions.
.. The top 400 households paid 2.13% of all individual income taxes, their highest share in the data series that goes back to 1992. Their average tax rate was 23.13%, the highest since 1997, when Congress cut capital-gains taxes.
.. future reports will focus on the top 0.001%, which included 1,396 households for 2014.