From: Tax structure and revenue instability: the Great Recession and the states
(1) | (2) | |
---|---|---|
Change in AGI per return, top 5% | Change in AGI per return, next 15% | |
Share of top 5% in AGI, 2007 | −643475*** | |
t-statistic | [−8.17] | |
Cap gains share of AGI in top 5% AGI, 2007 | −378969*** | |
t-statistic | [−4.97] | |
Tax burden on top 5% | −381995** | |
t-statistic | [−2.36] | |
Share of next 15% in AGI, 2007 | 14802 | |
t-statistic | [0.66] | |
Cap gains share of AGI in next 15%, 2007 | −15821 | |
t-statistic | [−0.29] | |
Tax burden on next 15% | −24120 | |
t-statistic | [−0.89] | |
Constant | 237904*** | −6972 |
t-statistic | [9.86] | [−0.93] |
No. of observations | 48 | 48 |
Adjusted R-squared | 0.847 | −0.040 |