Hey everyone don't worry.................
the upper brackets are doing fine even after taxes
and especially relative to lower quintiles.
Average Total Federal tax rate paid (including
payroll-employee and employer share,
corporate income tax, and excise taxes)
as a % of average family income.
1981
Bottom 20% = 8.0%
Second Quintile = 15.0%
Middle Quintile = 19.5%
Fourth Quintile = 22.9%
Top 20% = 27.9%
Top 10% = 29.0%
Top 5% = 30.1%
Top 1% = 31.7%
1999
Bottom 20% = 4.6%
Second Quintile = 13.7%
Middle Quintile = 18.9%
Fourth Quintile = 22.2%
Top 20% = 29.1%
Top 10% = 30.6%
Top 5% = 31.8%
Top 1% = 34.4%
The report showed average family
income for these groups for 1981/1999 as:
1981
Bottom 20% = $8,900
Second Quintile = 21,700
Middle Quintile = 34,600
Fourth Quintile = 48,400
Top 20% = 95,900
Top 10% = 125,000
Top 5% = 168,000
Top 1% = 367,000
1999
Bottom 20% = $8,400
Second Quintile = 21,200
Middle Quintile = 35,400
Fourth Quintile = 53,000
Top 20% = 132,000
Top 10% = 188,000
Top 5% = 276,000
Top 1% = 719,000
Some extrapolation from these figures
What was percent growth in income from 1981 to 1999?
Bottom 20% = 6 % decrease
Second Quintile = 2.4 % decrease
Middle Quintile = 2.26 % increase
Fourth Quintile = 8.68 % increase
Top 20% = 27.3 % increase
Top 10% = 33.5 % increase
Top 5% = 39.1 % increase
Top 1% = 48 % increase
What is income after Total Federal taxes in 1981?
Bottom 20% = $8,900 * (100-8.0)/100 = 8,188.00
Second Quintile= 21,700 * (100-15.0)/100 = 18,455.00
Middle Quintile= 34,600 * (100-19.5)/100 = 27,853.00
Fourth Quintile= 48,400 * (100-22.9)/100 = 37,316.40
Top 20%= 95,900 * (100-27.9)/100 = 69,143.90
Top 10%= 125,000 * (100-29.0)/100 = 88,750.00
Top 5%= 168,000 * (100-30.1)/100 = 117,432.00
Top 1%= 367,000 * (100-31.7)/100 = 250,661.00
What is income after Total Federal taxes in 1999?
Bottom 20% = $8,400 * (100-4.6)/100 = 8,013.60
Second Quintile= 21,200 * (100-13.7)/100 = 18,295.60
Middle Quintile= 35,400 * (100-18.9)/100 = 28,709.40
Fourth Quintile= 53,000 * (100-22.2)/100 = 41,234.00
Top 20%= 132,000 * (100-29.1)/100 = 93,588.00
Top 10%= 188,000 * (100-30.6)/100 = 130,472.00
Top 5%= 276,000 * (100-31.8)/100 = 188,232.00
Top 1%= 719,000 * (100-34.4)/100 = 471,664.00
What was percent growth in income after Total Taxes from 1981 to 1999?
Bottom 20% = 2.2 % decrease
Second Quintile = .87 % decrease
Middle Quintile = 2.98 % increase
Fourth Quintile = 9.5 % increase
Top 20% = 26.1 % increase
Top 10% = 32.0 % increase
Top 5% = 37.6 % increase
Top 1% = 46.9 % increase
Questions:
Are income adjusted gross income after deductions?
Are percents taxed based upon gross income or adjusted income?
After housing, food, and other necessities, who
obviously has the most disposable income even
though higher lifestyles occur at higher quintiles?
For each quintiles what is disposable income
utilized for capital gains?
What is additional capital gains income from
those with additional income?
cbo.gov |
