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:
--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.

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