There’s no need to panic—the rich are doing fine. According to new data from the Internal Revenue Service, income reported on tax returns for the 400 wealthiest individuals rose 20% in 2014, the Wall Street Journal reports. The significant income boost reveals what many of us already suspected: The rich are getting richer. Worth noting is that the country as a whole has been grappling with broad-based wage stagnation for decades.
WSJ reports that individuals in the top 400 made an adjusted 2014 income of at least $126.8 million. Income from those few-hundred individuals now comprises 2.13% of all individual income taxes, the highest since at least 1992.
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