Happy Tax Day, Chumps


IRS data shows that taxes for the 400 highest adjusted gross incomes, the average tax rate dropped from 26 percent in 1992 to 17 percent in 2007 (the most recent year for IRS data). During the same time period, the average federal income tax rate for taxpayers overall took a much smaller drop, from 9.9 percent to 9.3 percent. [AP]