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Non-Tech : Who Really Pays Taxes?
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To: Wren who wrote (468)8/19/2000 8:11:01 AM
From: ztect  Read Replies (1) of 666
 
Some additional Figures and Extrapolations from Budget Office Data:

cbo.gov

Remember 1999 numbers are projected

Number of families in each quintile in 1999

Bottom 20% = 22.7 million
Second Quintile = 23.3
Middle Quintile = 22.5
Fourth Quintile = 22.6
Top 20% = 23.6
=========
(top 20% broken down further)
Top 10% = 11.9
Top 5% = 5.9
Top 1% = 1.2

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

Some additional extrapolations :

Bottom four quintiles = 91.1 mil had average increase in income of 2.35%
Top quintile = 23.6 mil had average increase in income of 26.1%
Top 1% = 1.2 million people had average increase in income of 46.9 %

Top Quintile income grew 11.1 times more than average
of bottom 80%

Top 1% income grew 20 times more than the average
of the bottom 80%

Again all 1999 numbers are based on projections from 1995 data,
so in lieu of the recent "new" economy boomlet, the disparities
between the top 20% and bottom 80% in terms of economic growth are
even greater, especially in terms of accumulated wealth.

Any one have a source of average incomes per quintiles
based on actual data for 1999 for income ?
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