Among the many myths refuted in the Tax Foundation‘s new chart book: American “millionaires” constitute a permanently entrenched privileged class that ought to be targeted for extra taxation.
The truth? The number of millionaires fluctuates widely from year to year.
Another truth? Very few millionaires enjoy that status year in and year out. The following chart shows how often particular taxpayers enjoyed millionaire status between 1999 and 2009.
