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Politics : View from the Center and Left

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To: cosmicforce who wrote (209607)11/27/2012 11:02:48 PM
From: Win Smith  Read Replies (1) of 540897
 
I think those numbers need to be read in conjunction with the corresponding total income shares. First source I found was taxfoundation.org ; that site has the data you found plus a bunch more, the particular table the link goes to gives the percent of total AGI in the various percentile brackets. It's also interesting because starting in 2001, they show the top 0.1% as well as the top 1% The top 0.1% looks to have about half the total income of the top 1%, E.g. the average income in the top 0.1% is about 9x that of the next 0.9 %. The creme de la creme, as it were. But there's some symmetry, the top 1% has about half the income of the top 10%, and the top 10% has about half the total income.

The upper crusters took a little bit of a hit in 2008-2009, presumably a lot of that has been made up since with the market (if not economy) recovery. If you look at 2007, before the crash broke the distribution trend, the top 0.1% made about the same all together as the bottom 50% make all together.

People (well, Republicans are people too, despite their best efforts to convince us otherwise) claim that you can't raise much money by raising rates on the top 1%, but that just doesn't seem to be true. If the top 1% paid the 33% net rate they had in 1986, the middle of the Reagan years(!) they'd have paid about 50% more than they did in 2007, when they had a net rate of 22%. That alone would have raised total income tax collected by 20%, without touching anybody below the top 1%.

Year

Total

Top 0.1%

Top 1%

Top 5%

Between 5% & 10%

Top 10%

Between 10% & 25%

Top 25%

Between 25% & 50%

Top 50%

Bottom 50%












2001

100%

8.10%

17.53%

31.99%

11.12%

43.11%

22.12%

65.23%

20.96%

86.19%

13.81%

2002

100%

7.06%

16.12%

30.55%

11.22%

41.77%

22.61%

64.37%

21.40%

85.77%

14.23%

2003

100%

7.57%

16.77%

31.18%

11.18%

42.36%

22.50%

64.86%

21.15%

86.01%

13.99%

2004

100%

9.14%

19.00%

33.45%

10.90%

44.35%

21.78%

66.13%

20.46%

86.58%

13.42%

2005

100%

10.65%

21.20%

35.75%

10.70%

46.44%

21.08%

67.52%

19.65%

87.17%

12.83%

2006

100%

11.22%

22.06%

36.66%

10.66%

47.32%

20.84%

68.16%

19.33%

87.49%

12.51%

2007

100%

11.93%

22.83%

37.44%

10.61%

48.05%

20.66%

68.71%

19.04%

87.74%

12.26%

2008

100%

9.96%

20.00%

34.73%

11.03%

45.77%

21.62%

67.38%

19.86%

87.25%

12.75%

2009

100%

7.80%

16.93%

31.72%

11.47%

43.19%

22.62%

65.81%

20.71%

86.52%

13.4800%

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