Aug
06

Progressive Percentiles

taxationThe poorest fifth of all households earn 3% of aggregate income and pay 0.4% of all federal taxes. The next quintile earns 7.6% of income and pays 3.8% of taxes. The middle quintile earns 12% and pays 9.1%, the 4th quintile earns 18.2% and pays 17.6% while the top fifth earns 59.2% and pays 68.8%. The top 5% earn 33.7% of income and pay 41.4%. Clear evidence of some progressivity.

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