PrintDecember 5, 2010
Graph for the Day for December 5, 2010
"As with the average federal tax rates for all taxes, average federal tax rates for the individual income tax have declined for the lowest three income quintiles since the early 1980s... The extent of the decrease was greatest for the lowest quintile, for which the rate dropped by nearly 7 percentage points... Average tax rates that are less than zero for the bottom two quintiles... about 35 percent of households did not owe any federal income taxes..." Congressional Budget Office, Dec. 2, 2010.
Source: CBO.
Hoven's Index for December 5, 2010
Average income of the highest quintile of households in 2007: $264,700
Of the middle quintile: $64,500
Of the bottom quintile: $18,400
Percentage of all federal income taxes paid by the top quintile: 70%
By middle quintile: 9%
By bottom quintile: 1%
Source: CBO.
Graph of the Day Archive.
