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]
Popularity: 8% [?]
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]
Popularity: 8% [?]
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]
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Economagic.com: Economic Time Series Page
List of government web sites. This site also has charts and excel files which you can browse with a subscription.
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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]
Popularity: 5% [?]
In an earlier post, I had a graph showing the Historical Tax Rates by Income Group using data from Pitketty & Saez. Here is another graph (found on Greg Mankiw’s Blog) which shows historical tax rates by income group but this time the data is from the Congressional Budget Office.
Addendum 3/3/08
The large difference between the two graphs is due to the treatment of payroll taxes paid by employers and the corporate income tax. The Pitketty & Saez data assumes these taxes are actually paid by employees and stockholders but the CBO data in the above graph does not include them.
Popularity: 4% [?]
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