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Table 4 Regression models for change in AGI per return by segment of the AGI distribution

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

  1. **p < .05, ***p < .01.