There's an undeniable fascination alongside looking at the highest income levels too their revenue enhancement payments.
Adrian Dungan provides a glimpse inward "Individual Income Tax Shares, 2014," which was published inward the IRS household mag
Statistics of Income Bulletin (Spring 2017, pp. 12-23).
Here's a figure showing the part of returns too the part of income taxes paid. For example, the exceed 1% of income revenue enhancement returns inward 2014 accounted for 20.6% of all income, exactly 39.5% of all income tax. The exceed 50% of all revenue enhancement returns accounted for 88.7% of all income too 97.3% of all income tax. Which inward plow implies that the bottom one-half of all revenue enhancement returns accounted for 11.3% of all income too 2.7% of all income tax.
Here's a figure focused on the really upper halt of this distribution. About 137 1000000 revenue enhancement returns were filed inward 2014. Thus, the exceed 1% of those returns refers to the exceed 1.37 1000000 revenue enhancement returns; 0.1%, the exceed 137,000 returns; 0.01%, the exceed 13,700 returns; too 0.001%, the exceed 1,370 returns. The bars for the exceed 1% demo the same numbers every bit inward the figure above. But the exceed 0.001% accounts for 2.1% of all income too 3.6% of all income taxes.
What are the income levels for these dissimilar groups? The exceed 10% kicks inward at virtually $130,000; the exceed 1% is at $460,000.
At the extreme upper end, the exceed 0.001% of revenue enhancement returns reported income of nearly $60 1000000 inward 2014.
Finally, here's around information on the average income revenue enhancement rates paid yesteryear those inward the highest brackets. Influenza A virus subtype H5N1 few points are worth noting here: 1) This is an average revenue enhancement rate, non a marginal revenue enhancement bracket--so these people are paying much higher revenue enhancement rates on the marginal dollar; 2) Average taxes on those alongside really high incomes rose inward 2012; too 3) The really highest income levels of 0.01% too 0.001% own got slightly lower average revenue enhancement rates, in all probability because these really high levels of income are probable to own got the cast of long-term upper-case alphabetic quality gains that are taxed at a lower charge per unit of measurement than regular income.
Influenza A virus subtype H5N1 few words of alert are appropriate earlier over-interpreting the figures here. These figures too percentages apply alone to federal income tax. They create non comprehend the federal payroll taxes that fund Social Security too Medicare, nor create they comprehend nation too local taxes similar sales, property, too income taxes. Thus, the figures create non demo overall revenue enhancement burden. The higher burden of income taxes on those alongside high income levels, every bit a part of their incomes, tin move idea of every bit counterbalancing how other major taxes similar sales revenue enhancement too payroll taxes weigh to a greater extent than heavily on those alongside lower incomes, every bit a part of their incomes.
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