Results 1 to 4 of 4

Thread: Average taxrate for top 400 taxpayers: 16.6%

  1. #1 | Top
    Join Date
    Jul 2006
    Posts
    59,628
    Thanks
    6,939
    Thanked 8,601 Times in 5,988 Posts
    Groans
    5,320
    Groaned 1,373 Times in 1,296 Posts
    Blog Entries
    3

    Default Average taxrate for top 400 taxpayers: 16.6%

    http://blogs.wsj.com/economics/2010/...400-taxpayers/

    A Look at the Tax Returns of the Top 400 Taxpayers


    By David Wessel

    The top 400 U.S. individual taxpayers got 1.59% of the nationís household income in 2007, according to their tax returns, three times the slice they got in the 1990s, according to the Internal Revenue Service. They paid 2.05% of all individual income taxes in that year.
    In its annual update of the taxes paid by the 400 best-off taxpayers, who arenít identified, the IRS also said that only 220 of the top 400 were in the top marginal tax bracket. The 400 best-off taxpayers paid an average tax rate of 16.6%, lower than in any year since the IRS began making the reports in 1992.
    To make the top 400, a taxpayer had to have income of more than $138.8 million. As a group, the top 400 reported $137.9 billion in income, and paid $22.9 billion in federal income taxes.
    About 81.3% of the income of the top 400 households came in the form of capital gains, dividends or interest, the IRS data show. Only 6.5% came in the form of salaries and wages.
    Over the past 16 tax years 3,472 different taxpayers showed up in the top 400 at least once. Of these taxpayers, a little
    more than 27% appear more than once. In any given year, about 40% percent of the top-400 returns were filed by taxpayers who werenít in that exclusive club in any of the 15 years .
    In all, the IRS received nearly 143 million individual tax returns for 2007, the year that ended with the onset of the worst recession in decades.
    "Do not think that I came to bring peace... I did not come to bring peace, but a sword." - Matthew 10:34

  2. #2 | Top
    Join Date
    Aug 2007
    Location
    Lompoc, Ca
    Posts
    8,432
    Thanks
    1,286
    Thanked 1,472 Times in 1,090 Posts
    Groans
    475
    Groaned 278 Times in 249 Posts

    Default

    Quote Originally Posted by HUGO STIGLITZ View Post
    http://blogs.wsj.com/economics/2010/...400-taxpayers/

    A Look at the Tax Returns of the Top 400 Taxpayers


    By David Wessel

    The top 400 U.S. individual taxpayers got 1.59% of the nationís household income in 2007, according to their tax returns, three times the slice they got in the 1990s, according to the Internal Revenue Service. They paid 2.05% of all individual income taxes in that year.
    In its annual update of the taxes paid by the 400 best-off taxpayers, who arenít identified, the IRS also said that only 220 of the top 400 were in the top marginal tax bracket. The 400 best-off taxpayers paid an average tax rate of 16.6%, lower than in any year since the IRS began making the reports in 1992.
    To make the top 400, a taxpayer had to have income of more than $138.8 million. As a group, the top 400 reported $137.9 billion in income, and paid $22.9 billion in federal income taxes.
    About 81.3% of the income of the top 400 households came in the form of capital gains, dividends or interest, the IRS data show. Only 6.5% came in the form of salaries and wages.
    Over the past 16 tax years 3,472 different taxpayers showed up in the top 400 at least once. Of these taxpayers, a little
    more than 27% appear more than once. In any given year, about 40% percent of the top-400 returns were filed by taxpayers who werenít in that exclusive club in any of the 15 years .
    In all, the IRS received nearly 143 million individual tax returns for 2007, the year that ended with the onset of the worst recession in decades.
    those that have get...and tax breaks
    I pledge allegiance to the constitution of the United States of America as amended by the legislative and executive branches and interpreted by the Supreme Court

    We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America

  3. #3 | Top
    Join Date
    Jul 2006
    Posts
    59,628
    Thanks
    6,939
    Thanked 8,601 Times in 5,988 Posts
    Groans
    5,320
    Groaned 1,373 Times in 1,296 Posts
    Blog Entries
    3

    Default

    Our tax system is hill shaped. The poor pay little, the rich pay little, and the middle class picks up the rest.
    "Do not think that I came to bring peace... I did not come to bring peace, but a sword." - Matthew 10:34

  4. #4 | Top
    Join Date
    Feb 2010
    Posts
    25
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Groans
    0
    Groaned 0 Times in 0 Posts

    Talking

    Translation: I live in my mom's basement and am jealous of anybody who makes enough dough to actually owe taxes.

    __________________

    "I am a Communist, a convinced Communist! For some that may be a fantasy. But to me it is my main goal."

    -Mikhail Gorbachev, who lost the Cold War espousing BS ideas

Similar Threads

  1. Average MSNBC Viewer
    By RockX in forum Current Events Forum
    Replies: 12
    Last Post: 08-05-2009, 06:51 PM
  2. Average FOX viewer
    By Topspin in forum Current Events Forum
    Replies: 42
    Last Post: 08-05-2009, 04:54 PM
  3. How big is the average penis?
    By I <3 Hezbollah in forum Off Topic Forum
    Replies: 11
    Last Post: 07-26-2009, 08:58 AM
  4. Glaciers Above Average Over Last 10k Years
    By Timshel in forum Current Events Forum
    Replies: 2
    Last Post: 11-06-2007, 08:13 AM
  5. The average IQ of this board just went up 20%
    By Cypress in forum Introductions, User Announcements, Suggestions and General Board Discussion
    Replies: 20
    Last Post: 07-02-2007, 02:09 PM

Bookmarks

Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •