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  1. Jeff #
    January 9, 2009

    Just as an FYI – The CBO just released a new report on effective tax rates (total taxes divided by total income). Here are the total effective federal tax rates for 2005, the most recent year available:

    Lowest quintile: 4.3 percent
    Second quintile: 9.9 percent
    Middle quintile: 14.2 percent
    Fourth quintile: 17.4 percent
    Percentiles 81-90: 20.3 percent
    Percentiles 91-95: 22.4 percent
    Percentiles 96-99: 25.7 percent
    Percentiles 99.0-99.5: 29.7 percent
    Percentiles 99.5-99.9: 31.2 percent
    Percentiles 99.9-99.99: 32.1 percent
    Top 0.01 Percentile: 31.5 percent

    The figures include all federal taxes, not just income taxes.

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