Tax rate on wealthiest 1% falls to 18 year low

[nradisic]

Source: Marketwatch

A growing share of the income pie, plus decreasing tax rates to boot. Not a bad deal. Unfortunately, it's a deal that's enjoyed by just 1% of the richest Americans.
That hallowed group enjoyed 22% of the nation's adjusted gross income in 2006, and saw its average tax rate drop to an 18-year low. That's the latest from the IRS' income statistics division.
As election season heats up, the candidates' tax plans will garner more attention, and that statistic could prove an interesting point of departure for debate. Does it make more sense to raise taxes on the nation's wealthiest people or to keep tax rates low in an effort to fuel-inject the economic engine?
Whether you are wealthy, poor, or in-between, your answer to that question will go a long way to revealing how you're likely to mark the ballot come November.
-- Andrea Coombes, assistant personal finance editor
Richest Americans see share of income grow, tax rates fall
In a new sign of increasing inequality in the U.S., 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, according to Internal Revenue Service data.
See full story.

Read more: http://www.marketwatch.com/news/story/taxing-times-tax-rate-americas/story.aspx?guid=%7B7D8BD8F8%2D786A%2D4323%2D904D%2D366674474D20%7D&dist=hplatest

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Obama has it right. It is way past time the top 1% pay their share. Times up!