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.