The total income reported on the top 400 individual tax returns rose 20% in 2014, according to Internal Revenue Service data released Thursday.
The figures reveal the concentration of earnings at the pinnacle of the income distribution, in a club that required $126.8 million of adjusted gross income to enter. That group, out of nearly 150 million tax returns in 2014, received 1.3% of income and 10% of capital gains that get preferential rates. The same 400 households also made 6.9% of all charitable contributions.
Continue reading here.