Tax Burden
Contrary to (at least my) expectation, when you include all government taxes, the tax burden for various income groups is roughly the same.
This, taken from the NY Times, includes federal and state income taxes, payroll taxes, property taxes, utility taxes, alcohol, gasoline and tobacco taxes, and sate sales taxes.
Howard Yellen
| Income Group | Pretax Income | Average Tax Receipts | As % of Income |
| Bottom 20% | $7,946 | $1,449 | 18.2% |
| Second 20% | $20,319 | $2,847 | 14.0% |
| Middle 20% | $35,536 | $5,622 | 15.8% |
| Fourth 20% | $56,891 | $9,835 | 17.3% |
| Top 20% | $116,666 | $21,623 | 18.5% |
This, taken from the NY Times, includes federal and state income taxes, payroll taxes, property taxes, utility taxes, alcohol, gasoline and tobacco taxes, and sate sales taxes.
Howard Yellen
posted by Howard at 9:52 PM
1 Comments:
Tax RATE is the same.
Burdon? Hmmm.....
The bottom 3/5 of earners in this country earn an average of $1247/month. Take 20%, and you're left to try to survive on $978. That $250/month paid to taxes could make the difference between having health insurance, or not, a functioning car, or not, paying for medication, or not.... And that's the bottom three quintiles.
Meanwhile, the top 10% earns an average of $19767 per month. Take away 20% and you're left with $15814. That $3953 paid to taxes each month can make the difference between paying for a vacation home on the lake, or not, or paying for a luxury yacht, or not, or ...
Who is bearing the greater BURDON?
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