0 Replies Latest reply on Nov 18, 2014 7:52 AM by BoBraxton

    Census Bureau annual report household income data for 2013

    BoBraxton

      quintile breakdown of data from 1967 through 2013


      Searching for this data was triggered by "Tax rates rise sharply for top 1%" (newspaper article) which

      reported "the richest 20 percent of households received a little more than half

      the total before-tax income and paid more than two-thirds of all federal taxes in 2011"

      accompanied by a graph showing year 2011 household income

      $138,800 "Top 81%-90%" but $66,400 "Middle quintile" (so there are two high quintiles, two lower).


      "federal tax rates for four income groups dipped in the late 2000s" -

      projections from CBO show rates again on the rise.


      Part of that "rise" is allowing to expire the Payroll Tax reduction (was it cut in half?)

      so that in my view is not an increase but allowing this to go back to where it should

      have been all along.


      This "household income" is not just payments like salaries and wages ("regular income")

      but also adds in "government transfers) - payments such as

      Social Security and Medicare as well as unemployment benefits.

      Those of us who have already retired are in there somewhere.