Posts tagged as:

Wages

Average Tax Rates up to $400,000 for Single Filers: 2009

by Catherine on March 15, 2010

in Comparing Tax Rates by Income, VE Infographics

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UPDATE 3/17/2010: I added more information about marginal tax rates by graphing the combined marginal tax rate line in the last graph. Also clarified that the employer-side of the payroll taxes are not included

The first of series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. I want to show how the marginal income tax rates + social security and medicare taxes combine together for a single taxpayer up to $400,000. (This graphic does not include payroll taxes paid by the employer.)

A little background about this data. If you take a look at your W-2 form you can see that there are 3 different taxes applied to salaries and wages:

The income tax graph is created from the 2009 tax schedule for a single taxpayer:

which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.

Tagged as: Area Graph, Average Tax Rate, CIA, IRS, Line Graph, Tax Rates, United States, Wages

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Financial Sector Wages 1909-2006 [NYTimes]

by Catherine on March 25, 2009

in Other

Found via NYTimes.com. Data is from Wages and Human Capital in the U.S. Financial Industry: 1909-2006. The graph shows the extra wages paid to people in the financial sector compared to other industries.

Financial Sector Wages Relative to Other Industries

Tagged as: Area Graph, CIA, Income - Occupation, NBER, United States, Wages

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US/UK Historical Economic Series

by Catherine on January 13, 2008

in Other

Measuring Worth
US/UK econ & population series from 1700s. UK Gold, Earnings and Retail prices back to 1260s.
This site lets you graph data and calculate Annualized Growth Rates for various time periods

Tagged as: Dow Jones Industrial Average, GDP, GDP per Capita, Gold, Population, United Kingdom, United States, Wages

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Has Middle America’s Wages Stagnated?

by Catherine on November 4, 2007

in Growth of Income Inequality, VE Infographics

{Click on the image to take a closer look}

I found a Federal Reserve article that analyzed the change in Average Hourly Earnings for production and nonsupervisory workers. After adjusting for inflation using the Personal consumption expenditures (PCE) {instead of the Consumer Price Index-Urban Wage Earners and Clerical Workers (CPI-W)} and including an estimate for worker’s benefits, the author concluded that workers’ hourly earnings (wages plus benefits) actually increased by 16% over 30 years (1975-2005) rather than decreased. Here, I graphed the full history, 1964-2006, but used the approach laid out in the article to show the effect of inflation and benefits. BTW, if you earned $16.76 an hour in 2006 that gave you an annual income of $33,520 (assuming you worked full-time).

[tags]income distribution, income inequality, Federal Reserve, wages, middle class[/tags]

Addendum: This was past on to me from a reader who found it on Marginal Revolution

Tagged as: BEA, Consumption, CPI, Federal Reserve, Income - Middle, Inflation, IRS, Line Graph, United States, Wages

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Real Gross National Income per Person

by Catherine on July 22, 2007

in History of the United States, VE Infographics

A NYT article about the .01 Percent had a quote from Warren Buffet that caught my attention: “‘This is a significantly richer country than 10, 20, 30, 40, 50 years ago,’ he declared, backing his assertion with a favorite statistic. The national income, divided by the population, is a very abundant $45,000 per capita, he said, a number that reflects an affluent nation but also obscures the lopsided income distribution intertwined with the prosperity.” This graph was an attempt to visualize that statistic. (Keep in mind that the numbers are in 2000 US$)

{Click on the graph to take a closer look}

The US Gross National Income (GNI) represents the total buying power of citizens of the United States. This buying power can be transferred around the economy by taxation and lending. GNI includes Wages and Salaries + Rents + Interest + Profits (also includes Depreciation of Capital + Sales taxes – Subsidies). Since it is “National” it measures income from resources owned by the citizens of the United States, regardless where the production occurs. Gross national income is identical to gross national product (GNP).

The Real GNI data can be found at Bureau of Economic Analysis National Economic Accounts Table 1.7.6. Population data can be found at Census Historical Series and Census Current Estimates .

[tags]income distribution, US income distribution, United States GNI, National Income[/tags]

Tagged as: BEA, Bureau of Economic Analysis, CIA, GDP per Capita, Income - Average, Median, Population, United States, Wages

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