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Thursday, March 12, 2009
Effective Federal Tax Rates
Non-sports post, but numbers-happy.
Interesting data on the effective tax rates by “quintiles” (meaning you take your tax payers, and split them into five equal groups), rather than talking about the high-end marginal tax rate. In 1940 , the (marginal) tax rate was 80% if your income was above 80 million $ (inflation-adjusted), which is why it’s silly to talk about the high-end level, as if it represents what we are actually wanting to talk about.
Anyway, in real terms for us, between 1979-2005, here’s the tax rate for the top and bottom quintile as reported in the above spreadsheet, plus I added my number: the difference in those two rates:
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