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Effective (Federal Income) Tax Rate, 2010

Last week, the Tax Policy Center of Urban Institute and Brookings Institution released updated information about the distribution of effective individual (federal) income tax rate, 2010.

The headline of Tax Policy Center’s twitter, TaxVox, goes: “Half of all households pay less than 1.5% of their income in federal individual income taxes.” Well, justifiable so to me, given the federal role in redistribution.

The graph below was trimmed from the original table so as to fit my blog width. Click the link and you can see more complete information, including “tax units” associated with each income quintile, their mean and median cash income, or footnotes(!) for the table.

An additional note: It is great that the table includes a five-number summary (instead of one single value) of the effective tax rate for each quintile. If you need just one value, better stick with the “Median” column rather than the “Mean” one, for means are very sensitive to outliers.

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Comments

NC does not stand a chance. Unless a company has a "Nexus" in a state, they are not required to collect sales tax. The onus of paying the sales tax is the person making the purchase.

The tax forms you need for self employment business are typically available from the following sources: the IRS, the state government site for which you owe the tax, or TurboTax Online. Usually, the best way to obtain the forms is to use the internet. It is an easy, quick and reliable resource. You may also print forms as you complete them, or even blank forms to review before you file.

I say we should boycott any retailer that agrees to this. NC has no claim to those dollars! I've said it before and I'll say it again. If you bought something in SC or TN you paid sales tax there and you are not required to pay sales tax in NC when you bring it back. So how is this different? The sale didn't happen here, I just didn't have to drive all the way across the line

there will always be a "g-man or woman" who wants to get into your pocket "for the greater good...we need taxation but it needs to be fair...if the product was taxed at the point of sale, then "that should be that".....http://www.flatfeetaxservice.com

Redistribution is exactly why the fed's would look into and be upset by the low number of households and the low amount of taxes each household pays. Something seems broken.

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