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We’re Rich, We’re Rich!

Kelly Phillips ErbApril 28, 2007

Well, at least somebody is.

The Treasury Department has reported that tax receipts from individuals hit a record one-day high of $48.7 billion on April 24. The previous record was $36.4 billion, set last year.

Much of the record tax receipts is said to reflect increasing wealth among America’s wealthiest individuals, and came not in the form of payroll tax but tax on investments or profits.

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Kelly Phillips Erb
Kelly Phillips Erb is a tax attorney, tax writer, and podcaster.
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