Fun Fact of the Day, December 6, 2019

December 6, 2019

What They Pay - The average tax rate (including federal income taxes, payroll taxes, and excise taxes paid as a percentage of income) for the bottom 20% of US taxpayers has fallen from 9.1% of before-tax income in 1979 to 1.7% of before-tax income in 2016. The average tax rate for the top 1% of US taxpayers has fallen from 35.0% of before-tax income in 1979 to 33.3% of before-tax income in 2016 (source: Congressional Budget Office). Reprinted with permission from BTN.

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