U.S. Federal Taxes - Who pays what.
Brains in Tanks
19-04-2006, 04:00
Percentage of income paid in federal taxes.
A quintile is 20% of the population.
Lowest quintile 5.5 percent
Second quintile 12.0
Middle quintile 15.6
Fourth quintile 19.6
Highest quintile 26.3
Top 10 percent 27.8
Top 5 percent 29.0
Top 1 percent 31.1
My guess is this will seem low to most people who aren't Americans.
Dobbsworld
19-04-2006, 04:36
Low?
That's so low you couldn't limbo underneath it.
I can't believe it - Americans piss and moan over that?
I can't believe it - Americans piss and moan over that?
Yep. Could be so much lower too, if not for that damn military.
Low?
That's so low you couldn't limbo underneath it.
I can't believe it - Americans piss and moan over that?
It's more than that. There are state and local taxes too.
It's more than that. There are state and local taxes too.
True. The average American does, after all taxes, pay around half of their income in taxes.
Brains in Tanks
19-04-2006, 04:41
I'm thinking this part is reversed, seeing as how it's Mathematically impossible.
Sorry, perhaps I should have made it more clear. It's percent of income. I've now edited in a line to make it a bit clearer.
Kinda Sensible people
19-04-2006, 04:42
Sorry, perhaps I should have made it more clear. It's percent of income.
Nah, I cottoned on just after I posted.
The numbers just seemed to low to be actual tax rate.
H N Fiddlebottoms VIII
19-04-2006, 04:44
I can't believe it - Americans piss and moan over that?
And I can't believe its not butter, but somehow I'm learning to live with it.
Two things to remember are cultural differences, the US fought two wars with Britain over angst related to British taxes, and returns on the dollar: having neither Nationalized Medicine nor Nationalized Education, the average American gets much less in return for taxes.
Waterkeep
19-04-2006, 05:02
Out of curiousity, do you have the average incomes as well for each of those quintiles and top percentages?
After all, if it costs 10K/year to live, and you're paying 5% from 11K/yr worth of income, that's a lot harder pill to swallow than paying 31% from 100K/yr.
Jello Biafra
19-04-2006, 05:06
My guess is this will seem low to most people who aren't Americans.Speaking as an American, it is low, especially on the upper quintiles.
Out of curiousity, do you have the average incomes as well for each of those quintiles and top percentages?
After all, if it costs 10K/year to live, and you're paying 5% from 11K/yr worth of income, that's a lot harder pill to swallow than paying 31% from 100K/yr.
Well as of 2005,
The highest tax bracket starts at around $168,000.
Also, keep in mind that various circumstances can earn you deduction. The vast majority of the lowest quintile are refunded all or nearly all of their federal tax dollars and the highest five percent get quite a few back as well. It’s the broad middle that bares the brunt, really.