Tuesday, June 4, 2013

More Disproportionate Tax Cuts for the Rich

60% of tax cuts would go to those earning more than $100,000, report says. (Milwaukee Journal Sentinel, 6/3/2013)

Excerpt: A married couple with adjusted gross income of between $50,000 and $60,000 a year under the tax plan would receive a tax cut of $90 in 2014 and $150 in 2015. Married taxpayers making more than $300,000 a year would receive an average cut of $1,627 in 2014 and $2,584 in 2015.

I always like to see how these kind of numbers look on a column graph.

In other column graph news.
It's falling

The median household income in 2009 was $49,777.  This amount serves as a dividing line between two equal groups, i.e., those households having an income less than $49,777 and those having an income more than $49,777.

About 20% of households have an income of $100,000 or more.

In other words, most of the tax cuts will benefit the highest 5th of households.   (This 20% of households takes in 50% of all income.)

No comments: