--The 2006 average effective federal tax rate is 20.7%. In 1979 (the year the data set starts) it was 22.2%. The 2006 average rate for the bottom quintile of households is 4.3%; for the highest quintile it's 25.8%. In 1979 it was 8% and 27.5%, respectively.
--The 2006 average effective rate for the top 1% of households is 31.2%. It fell slightly since 2005, when it was 31.6%. In 1979 it was 37%.
--The bottom quintile of households pay 0.8% of all federal tax liabilities. The top quintile pays 69.35.
--The average pretax income for the bottom quintile is $17,200. For the top quintile it's $248,400. After-tax, it's $16,500 and $184,400.
Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Tuesday, April 07, 2009
Conor Clarke posts an update of the tax picture in the US
Inequality and progressivity are in the eye of the beholder, but here are a few highlights:
Labels:
economic policy,
taxes
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