Cutting corporate rates boosts top 1 percent incomes: Percentage-point change in state corporate income tax rates and top 1 percent income share, 1980–2010
| Corporate rate | Top 1 percent income share | Population (weight) |
|---|---|---|
| 1.5% | 6.7% | 4.80E+06 |
| 0.0% | 7.0% | 710231 |
| -3.5% | 8.3% | 6.30E+06 |
| 0.5% | 7.4% | 2.90E+06 |
| -0.8% | 12.1% | 3.70E+07 |
| -0.4% | 8.3% | 5.00E+06 |
| -2.5% | 20.5% | 3.60E+06 |
| 0.0% | 3.1% | 897934 |
| 0.5% | 11.4% | 1.90E+07 |
| 0.0% | 7.5% | 9.70E+06 |
| 0.0% | 3.8% | 1.40E+06 |
| 1.1% | 6.2% | 1.60E+06 |
| 0.8% | 10.8% | 1.30E+07 |
| 2.5% | 5.7% | 6.50E+06 |
| 2.0% | 3.9% | 3.00E+06 |
| 0.3% | 6.2% | 2.90E+06 |
| 0.0% | 5.6% | 4.30E+06 |
| 0.0% | 5.1% | 4.50E+06 |
| 2.0% | 4.5% | 1.30E+06 |
| 0.0% | 6.2% | 5.80E+06 |
| -0.8% | 14.3% | 6.50E+06 |
| 2.6% | 8.0% | 9.90E+06 |
| -2.2% | 7.8% | 5.30E+06 |
| 1.0% | 6.9% | 3.00E+06 |
| 1.3% | 6.5% | 6.00E+06 |
| 0.3% | 8.0% | 989415 |
| 3.3% | 6.2% | 1.80E+06 |
| 0.0% | 14.1% | 2.70E+06 |
| 0.5% | 9.1% | 1.30E+06 |
| 0.0% | 10.4% | 8.80E+06 |
| 2.6% | 5.8% | 2.10E+06 |
| -2.9% | 18.1% | 1.90E+07 |
| 0.9% | 5.4% | 9.50E+06 |
| -2.1% | 5.3% | 672591 |
| -8.0% | 5.9% | 1.20E+07 |
| 2.0% | 4.8% | 3.80E+06 |
| -0.5% | 6.5% | 3.80E+06 |
| 0.5% | 7.8% | 1.30E+07 |
| 1.0% | 5.3% | 1.10E+06 |
| -1.0% | 6.8% | 4.60E+06 |
| 0.0% | 7.2% | 814180 |
| 0.0% | 7.1% | 6.30E+06 |
| 0.0% | 8.3% | 2.50E+07 |
| 1.0% | 7.6% | 2.80E+06 |
| 1.0% | 5.1% | 625741 |
| 0.0% | 7.8% | 8.00E+06 |
| 0.0% | 8.1% | 6.70E+06 |
| 2.5% | 4.9% | 1.90E+06 |
| 0.0% | 7.6% | 5.70E+06 |
| 0.0% | 19.5% | 563626 |
Note: Author’s analysis of data on state corporate tax rates from Serrato and Zidar (summary data here). Data on top 1 percent income shares by state from the Frank-Price-Sommeiller state income data. Data points weighted by state population in 2010.