I noticed a lot of political stuff here, so I thought some of you might be interested in this.
Annual [1]summary of the latest federal income tax data broken down by income percentile (the IRS recently released the 2011 numbers).
Here are some of the highlights:
- In 2011, the top 50 percent of all taxpayers paid 97 percent of all income taxes; the top 5 percent paid 57 percent of all income taxes; and the top 1 percent paid 35 percent of all income taxes;
- For all taxpayers, the average tax rate increased from 11.81 percent to
- Average tax rate increased for all groups and remained essentially flat for the top 0.1 percent;
- Economy improved, pushing incomes and taxes paid for all income groups higher, except for those in the top 0.1 percent.
Each year, this is one of our most popular resources for taxpayers, lawmakers, and reporters. I hope you find it useful. Please let me know if you have any questions or comments.
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