Job Market Monitor
Federal Taxes
Federal Taxes in US, 2013 – Highest quintile received a little more than half of total before-tax income and paid more than two-thirds of all federal taxes
Households in the highest income quintile received a little more than half of total before-tax income and paid more than two-thirds of all federal taxes in 2013 (see Figure 1). Households in other income groups received considerably smaller shares of before-tax income and paid considerably smaller shares of federal taxes. Furthermore, the share of taxes … Continue reading
Federal Taxes, 2011 in US – Average tax rates by quintile goes from 11 percent to 23 percent CBO finds
In 2011, according to CBO’s estimates, average household market income—a comprehensive income measure that consists of labor income, business income, capital income (including capital gains), and retirement income—was approximately $81,000. Government transfers, which include benefits from programs such as Social Security, Medicare, and unemployment insurance, averaged approximately $13,000 per household. The sum of those two … Continue reading
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