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May 18, 2011
Graph for the Day for May 18, 2011
"Over time a significant number of households move to higher or lower positions along the income distribution. As a result, public policies such as income taxation and income redistribution affect ‘classes' of people differently over each person's lifetime. In addition, income mobility muddies the picture of income inequality derived from a simple comparison of income quintiles from different years because such comparisons incorrectly implicitly assume that each income quintile contains the same households over time." St. Louis Federal Reserve.
Source: St. Louis Federal Reserve.
Hoven's Index for May 18, 2011
In 2008, percent of all federal income taxes paid by:
The highest 0.2% of households: 24.1%
The highest 3.1% of households: 52.0%
The lowest 45.7%: 0.2%
Percent of households paying no federal income tax at all: 47%
Sources: IRS and Associated Press.
Graph of the Day Archive.
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