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Interesting Tax Stats.

Published 07 November 2008 by matthew | | E-mail this post

From Vincent Farrell of Soleil Securities:

Top 1%
If you are lucky or hard-working enough to have earned $364,657 in 2006, the last year for which data is fully available, you are in the top 1% of earners.

That group earned 22% of all income and paid 40.4% of all taxes levied on individuals.

The top 1% paid almost as much as the lower 95%! The percent of taxes paid by the top 1% has increased from 19% of all tax to the current 40% over the last 25 years.

Top 5%
$145,283 in earnings landed you in the top 5% of earners, and the top 5% paid 60% of all taxes.

Top 10%
$103,912 was needed to qualify for the top 10%, and that group paid 70% of all taxes.

Top 25%
The top 25% of incomes (over $62,066) paid 86% of taxes.

Non Tax Payers
It’s estimated that, in 2009, well over 40% of American earners will pay no Federal tax.

(Thanks to Eddy)