Visualizing America’s Tax Inequality
Posted By thestatedtruth.com on April 12, 2010
As the charts below demonstrate, American society is currently stratified beyond repair. In this vein, the Tax Policy Center calculates, that for a return to economic normalcy, or deficits at a “mere” 2% of GDP, households earnings more than $200/250k would see their tax rates going up to a stunning 91%. If the economic underperformance target is reduced to more palatable deficits at 3% of GDP, then the top earners would be hit with “only” 77% taxes.
A summary of the details:
- 40% of US households make below $36,000
- 60% make below $57,000
- 80% make below $91,750
- 95% making below $165k
- 98% making less than $250,000
- 99.99% make less than $5 million and 0.01% make more than $5 million (with a very special category for those making over $1.5 billion: “Hedge Fund Managers”)
- 1% of society makes 17.3% of the income,
- The average income in the top 0.01%, or 11,000 households, is $35,473,200, and a minimum of $8,579,000
- The average income in the the next 99,000 households, or 99.9%-99.99% of the population makes an average $4,699,500, and a minimum of $1,532,400
- The average income in the next 451,000 households, or 99.5%-99.9% of the population makes and average $1,206,200, and a minimum of $482,400
- The average income in the next 564,000 households, or 99$-99.5% of the population makes and average $269,800, and a minimum of $126,300
- …and so forth.
Here are the charts that capture the stratification of America, and its new “nobility” class, courtesy of Visualizing Economics:
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