* I updated this paragraph to add a chart and to include the fourth quintile in those who’ve had their tax rates raised.

UPDATE: Felix Salmon, who’s a contributing editor here, also had a harsh take on this piece. Read it over at Reuters.

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu. Follow him on Twitter at @ryanchittum.