This graph shows the average income reported to the IRS and the average taxes paid by the top 400, i.e. the 400 taxes returns with the highest adjusted gross income from 1992-2005. This does not represent not gains in the wealth of people like Bill Gates but instead shows the annual income of the superrich reported to the IRS. They accounted for 1.15% of total income reported in 2005, more than twice as large as their 0.49% share in 1995.
{Click on the image to take a closer look}
Data from the IRS via Wall Street Journal’s Tax Report
[tags]Tax Rates, United States, Income tax, IRS[/tags]
Tagged as:
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Blog,
Income - Average, Median,
Income - High,
IRS,
Line Graph,
Tax collection,
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United States
by Catherine on March 23, 2008
in Other
I updated a previous graph, comparing the effective tax rates for the Federal Individual Income and Social Insurance (payroll) by adding Excise and Corporate Income. Additionally, I added the tax rates for the Top 1%. Note: the effective tax rate increases for both individual and corporate income the higher the household’s income, while the social insurance and excise tax rate decreases.
{Click on the image to take a closer look}
Minimum household income:
Lowest Quintile $0
Second Quintile $17,900
Middle Quintile $30,500
Fourth Quintile $45,200
Highest Quintile $67,400
Top 1% $307,500
Data from Congressional Budget Office
[tags]Tax Rates, United States, Income tax, Social Security, Corporate Tax, Excise Tax[/tags]
Tagged as:
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CIA,
Congressional Budget Office,
Income - Types of,
Tax Rates,
United States
by Catherine on March 16, 2008
in Other
I created this graph showing the average income for different household percentiles, comparing pretax income and aftertax income. The minimum income threshold for each percentile is noted in the graph.
{Click on the image to take a closer look}
Data from Congressional Budget Office
[tags]United States, Income tax, average income[/tags]
Tagged as:
Bar Chart,
Congressional Budget Office,
Income - Average, Median,
Income - Share of,
Tax collection,
Tax Rates,
United States
by Catherine on March 13, 2008
in Other
Inspired by the tax rate graph in my previous post, I created this graph comparing the effective tax rates for the Federal Individual Income tax and Social Insurance (payroll) tax by household quintile. The Earned Income Tax Credit accounts for the negative individual income tax rate for the lowest and second quintiles.
{Click on the image to take a closer look}
Data from Congressional Budget Office
[tags]Tax Rates, United States, Income tax, Social Security[/tags]
Tagged as:
Bar Chart,
CIA,
Congressional Budget Office,
Tax Rates,
United States
by Catherine on March 2, 2008
in Uncategorized
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