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Pepper

The Distribution of Household Income and Federal Taxes, 2008 and 2009

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Obama+Urkel.JPGCongressional Budget Office:

 

 

The Distribution of Household Income and Federal Taxes, 2008 and 2009

 

Report released July 10, 2012

 

• Average Before-Tax Income for All Households Fell 12 Percent from 2007 to 2009 in Real (Inflation-Adjusted) Terms

 

Share of Tax Liabilities Increases with Income

 

Because average federal tax rates rise with income, the share of federal taxes paid by higher-income households exceeded their share of before-tax income, and the opposite was true for lower-income households.

 

In 2009, the shares of federal taxes paid by households in certain income quintiles were:

 

* Lowest quintile: 0.3 percent

* Middle quintile: 9.4 percent

* Highest quintile: 67.9 percent

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From the report

 

"For households in the top one percent, income fell by 36 percent, reducing their share of before-tax income from 18.7 percent to 13.4 percent. "

 

--- It's working ! says Obama

 

 

 

701urkel-obama-economy-do-that.jpg

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We have to quit talking about rates on our side and focus on revenues. It's very clear that the rich are paying way more than their fair share to anyone looking at te numbers...but those who want other people's money will never be satisfies.

 

If we talk about increasing tax revenues we change the conversation to something we do want to do.

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