Who pays federal income taxes?

I figured I’d share some data with you, as the big debate around Washington is about the expiring tax rates. I’ll spare you my views and the partisan debate over them that is currently taking place.

I went to IRS tax stats, and downloaded the data for 2008 (the latest year available) and used data from table 1.1. Because these charts used $200k, not the magic $250k number, I use $200k is the dividing line for what adjusted gross income categories the Democrats want taxes to remain the same for (blue) and what the Republicans would like to see (blue and red.)

Enjoy.

 

I’ll let you draw your own conclusions, because I’m not going to convince you of anything, but the facts are this:

  • The vast majority of federal income tax returns filed (96.8%) have an adjusted gross income under $200k.
  • The majority of federal income taxes actually paid come from individuals earning over $200k.

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  1. Liked: Who pays federal income taxes? (from JimSwift.net) http://ping.fm/Sid8p

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