The Census Bureau announced figures on the number of million dollar incomes in the United States as revealed by the income tax in 1921. There were only 21 such incomes in that year, although in 1920 there were 33; in 1919, 65; in 1918, 67; in 1917, 141.
The cause of decrease in the higher incomes was doubtless twofold: smaller dividends and more tax-free investments.
¶The average net income was $2,938.56 (the year previous it was $3,269.40).
¶Over 86% of the number of returns were from incomes between $1,000 and $5,000.