The U.S. tax system has undergone dramatic changes over the last century, with top rates dropping sharply since the mid-20th century—a trend with major implications for average Americans and wealth distribution.[1][2][3][4]
In sum: The fall in U.S. top tax rates over the last century has benefited wealthy Americans far more than the average worker, increasing the concentration of wealth and contributing to rising economic inequality.[15][16][3][8][11][13]