Sunday, February 27, 2011

Third Of Eligible Voters Pay 97 Percent Of US Income Taxes: Chart Of Income Taxes Paid By Income Group

Chart from the Tax Foundation of the amount of income tax paid by each income group in "Summary of Latest Federal Individual Income Tax Data" by Mark Robyn and Gerald Prante:

Summary of Federal Individual Income Tax Data, 2008
(Updated October 2010)

Number of Returns with Positive AGI
AGI 
($ millions)
Income Taxes Paid 
($ millions)
Group's Share of Total AGI
Group's Share of Income Taxes
Income Split Point
Average Tax Rate
All Taxpayers
139,960,580
8,426,625
1,031,512
100%
100%
-
12.24%
Top 1%
1,399,606
1,685,472
392,149
20.00%
38.02%
$380,354
23.27%
1-5%
5,598,423
1,241,229
213,569
14.73%
20.70%

17.21%
Top 5%
6,998,029
2,926,701
605,718
34.73%
58.72%
$159,619
20.70%
5-10%
6,998,029
929,761
115,703
11.03%
11.22%

12.44%
Top 10%
13,996,058
3,856,462
721,421
45.77%
69.94%
$113,799
18.71%
10-25%
20,994,087
1,821,717
169,193
21.62%
16.40%

9.29%
Top 25%
34,990,145
5,678,179
890,614
67.38%
86.34%
$67,280
15.68%
25-50%
34,990,145
1,673,932
113,025
19.86%
10.96%

6.75%
Top 50%
69,980,290
7,352,111
1,003,639
87.25%
97.30%
>$33,048
13.65%
Bottom 50%
69,980,290
1,074,514
27,873
12.75%
2.70%
<$33,048
2.59%
Source: Internal Revenue Service

For example, the above Tax Foundation table shows that the top 10 percent in income of taxpayers, those making more than $113,799 per year, paid 70 percent of all individual income taxes. The bottom 50 percent of taxpayers paid only 2.7 percent of US income taxes.

There are about 230 million people in the US over 25 years old and about 190 million between the ages of 25 and 65 years old. In 2008, only 140 million individual returns with positive income were filed, which is pretty close to the number of working individuals.

In 2008, there were about 213 million eligible US voters. Less than 7 percent of eligible voters are paying 70 percent of the US income tax. 33 percent of eligible voters are paying 97 percent of US income taxes.

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