The top 40% of U.S. households paid 106.2% of income taxes; bottom 40% paid -9.1%, and received an average of $18,950 in 'transfers. But it’s never enough, is it? CBO reports on the 2010 year. See p. 13
And it will get worse for high earners. New taxes for high-income taxpayers, enacted with the Affordable Care Act, took effect in 2013.
I noticed on the chart that the low income pay more of the excise taxes (percentage of income, I assume) than the wealthiest.
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1 comment:
Very interesting, Norma!
Makes me wonder … “Do you suppose that any of our legislators or administration/agency staffers read these reports, before they begin to ‘cobble together’ laws which seem to me at least to contradict the implications of the ‘hard data’ of the reports ?”
Rob
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