However, the magnitude of the decline of top tax rates was a good predictor of the increases in pre-tax income concentration in these countries (chart 5.2B).1 Reduced top marginal tax rates also encourage a greater distribution of corporate profits among shareholders - who are mainly to be found in the top income groups -rather than reinvestment of such profits. Such income, in turn, is more likely to be saved in the form of acquisitions of existing assets, rather than being spent for consumption (Bakija, Cole and Heim, 2012). But despite the reduction in progressivity of the tax systems and lower corporate taxes, growth remained slow and unemployment relatively high. In developing countries, especially in Latin America, as well as in the transition economies, the share of income taxes in total public revenues is much lower than in developed countries.