Tax Rates Have Fallen The Most For The Richest Americans [GRAPHIC]

GRAPHIC: Why It Pays To Be Rich

It pays to be rich. Literally.

Since Bill Clinton's first term, taxes have fallen the most for the wealthiest Americans. Federal tax rates plunged 9.4 percent between 1995 and 2007 for the top 0.01 percent of households, according to the Economic Policy Institute.

In comparison, tax rates for the top 1 percent fell 6.6 percent, and tax rates for most Americans -- households between the 20th percentile and 99th percentile in income -- fell just 2.9 percent.

Taxing the rich has become a flashpoint on the campaign trail. Republican presidential candidate Mitt Romney has proposed extending all of the Bush tax cuts, which largely benefit the richest Americans, while cutting tax rates further and eliminating inheritance taxes, according to the Associated Press. President Obama, on the other hand, has proposed the "Buffett rule," which would levy a minimum tax on the wealthiest Americans -- though it failed in the Senate in a 51-45 vote because of a Republican filibuster.

Check out how tax rates have plunged for the rich in this graphic from the Economic Policy Institute here:

tax rates have fallen richest

Before You Go

Popular in the Community