Federal Tax Progressivity: Just the Facts
From a new CBO report, here are the effective federal tax rates for 2004 (the most recent year available in this report):
Lowest quintile, 4.5
Second quintile, 10.0
Middle quintile, 13.9
Fourth quintile, 17.2
Highest quintle, 25.1
Top 10 percent, 26.9
Top 5 percent, 28.5
Top 1 percent, 31.1
These numbers include all federal taxes (not just income taxes) and are expressed as a percentage of household income.
Lowest quintile, 4.5
Second quintile, 10.0
Middle quintile, 13.9
Fourth quintile, 17.2
Highest quintle, 25.1
Top 10 percent, 26.9
Top 5 percent, 28.5
Top 1 percent, 31.1
These numbers include all federal taxes (not just income taxes) and are expressed as a percentage of household income.
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