Catherine Rampell at Economix presents and discusses data on the progressivity of taxes (federal, state, and local, calculations from the Citizens for Tax Justice). As she notes, this comes in rebuttal to claims based upon CBO data that taxes are highly progressive, and that the wealthy pay far more than their share:
Horizontal axis shows the income group. Vertical
axis shows the percentage of income that the average member of that
group pays in taxes. Taxes include all federal, state and local taxes
(personal and corporate income, payroll, property, sales, excise,
estate, etc.). Incomes include cash income, employer-paid FICA taxes
and corporate profits net of taxable dividends.
Horizontal axis shows the income group. Taxes
include all federal, state and local taxes (personal and corporate
income, payroll, property, sales, excise, estate, etc.). Incomes
include cash income, employer-paid FICA taxes and corporate profits net
of taxable dividends.
Update: pgl follows up.
Posted by Mark Thoma on Tuesday, April 14, 2009 at 12:42 AM in Economics, Equity, Taxes |
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