Comments on: Obama Predicts Years of Deficits Over $1 Trillion http://badice.com/2009/01/07/obama-predicts-deficits/ badice.com ~ musings for the masses Tue, 07 Feb 2012 18:10:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jeff http://badice.com/2009/01/07/obama-predicts-deficits/#comment-16 Jeff Fri, 09 Jan 2009 17:04:50 +0000 http://badice.com/?p=1807#comment-16 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. 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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