The Mudcat Café TM
Thread #92887   Message #1782349
Posted By: CarolC
13-Jul-06 - 12:28 AM
Thread Name: BS: Oh no!....Say it ain't so!!
Subject: RE: BS: Oh no!....Say it ain't so!!
From the charts...

Average income, pre-tax:

Lowest Quintile________________________14,800

Second Quintile________________________34,100

Middle Quintile________________________51,900


Average income, after-tax:

Lowest Quintile________________________14,100

Second Quintile________________________30,800

Middle Quintile________________________44,800


Share of Income Paid in Taxes (percentage):

Lowest Quintile________________________4.2

Second Quintile________________________9.1

Middle Quintile________________________14.4

Top 1%______________________________14.4


The middle quintile paid the same exact percentage of their income in 2003 as the top 1%.

The fourth quintile paid 20.9 percent of their income in taxes in 2003. As a percentage of income, that's four more than the top 1%.

The average pre-tax income of the fourth quintile was 77,300.

The average pre-tax income of the top 1% was 1,022,400.