Income Taxes Paid By Income Level - Home » Yardeni … Economic Briefing: Income Taxes Paid By Income Level Yardeni Research, Inc. May 2, 2017 Dr. Edward Yardeni 516-972-7683 [email protected]

US Economic Briefing:Income Taxes PaidBy Income Level

Yardeni Research, Inc.

May 2, 2017

Dr. Edward Yardeni516-972-7683

[email protected]

Debbie Johnson480-664-1333

[email protected]

Please visit our sites atwww.yardeni.comblog.yardeni.com

thinking outside the box

Table Of Contents Table Of ContentsTable Of Contents

May 2, 2017 / Income Taxes Paid By Income Level www.yardeni.com


Tax Returns Filed 1-3Income Reported to IRS 4Tax Deductions 5Individuals Income Tax Data 6-7Adjusted Gross Income By Group 8Tax Returns Filed By Income Group 9Average Income Taxes Paid Per Income Group 10Taxes Paid By Income Group As % Of Total 11Taxes Paid By Income Group As % Of Gross Income 12Taxes Paid By Income Group As % Of Taxable Income 13Tax Returns Filed By Income Group As % Of Total 14Deductions By Income Group As % Of Gross Income 15Gross Income By Group As % Of Gross Income 16Taxes Paid By Income Group 17Income Tax Snapshot of Millionaires 18Income Tax Snapshot Of 2004 & 2014 19-21

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015125

130

135

140

145

150

125

130

135

140

145

150

130.3 130.1 130.4

132.2

134.4

138.4

143.0142.5

140.5

142.9

145.4 144.9

147.4

148.6TOTAL INDIVIDUAL INCOME TAX RETURNS FILED

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(number, millions)

Source: Internal Revenue Service.

Figure 1.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20151.15

1.20

1.25

1.30

1.15

1.20

1.25

1.30

1.25

1.241.23 1.23 1.23

1.25

1.29

1.28

1.25

1.27

1.28

1.27

1.28 1.28

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NUMBER OF INDIVIDUAL INCOME TAX RETURNS FILEDPER HOUSEHOLD

Source Internal Revenue Service.

Figure 2.

Tax Returns Filed

Page 1 / May 2, 2017 / Income Taxes Paid By Income Level www.yardeni.com


2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201580

85

90

95

100

80

85

90

95

100

94.8

90.9

88.9 89.1

90.6

92.7

96.2

90.6

81.9

84.4

91.7

93.0

94.6

96.6

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INCOME TAX RETURNS FILEDSHOWING TAXES PAID(number, millions)


Figure 3.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201530

40

50

60

30

40

50

60

35.4

39.2

41.5

43.143.8

45.746.8

51.9

58.6 58.4

53.6

51.952.8

52.0

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INCOME TAX RETURNS FILEDSHOWING NO TAXES PAID(number, millions)

Source Internal Revenue Service.

Figure 4.

Tax Returns Filed



2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201556

59

62

65

68

71

74

77

56

59

62

65

68

71

74

77

72.8

69.9

68.267.4 67.4

67.0 67.3

63.6

58.359.1

63.1

64.2 64.265.0

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INCOME TAX RETURNS FILEDSHOWING TAXES PAID(percent of total tax returns)


Figure 5.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201525

30

35

40

45

25

30

35

40

45

27.2

30.1

31.832.6 32.6

33.0 32.7

36.4

41.740.9

36.9

35.8 35.835.0

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INCOME TAX RETURNS FILEDSHOWING NO TAXES PAID(percent of total tax returns)


Figure 6.

Tax Returns Filed



2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20150

2

4

6

8

10

12

0

2

4

6

8

10

12

6.17 6.03 6.21

6.79

7.42

8.03

8.698.26

7.638.09

8.37

9.10 9.09

9.77

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ADJUSTED GROSS INCOME*:TOTAL REPORTED TO IRS(trillion dollars)

Source: Internal Revenue Service.* Excluding exemptions & deductions.

Figure 7.

Income Reported to IRS



2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20152.0

2.1

2.2

2.3

2.4

2.5

2.6

2.7

2.8

2.9

3.0

3.1

3.2

3.3

3.4

2.0

2.1

2.2

2.3

2.4

2.5

2.6

2.7

2.8

2.9

3.0

3.1

3.2

3.3

3.4

2.092.15

2.24

2.36

2.54

2.73

2.93

3.00 2.98 3.003.06

3.13 3.143.20

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TOTAL EXEMPTIONS & DEDUCTIONS(trillion dollars)


Figure 8.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201524.0

24.5

25.0

25.5

26.0

26.5

27.0

27.5

28.0

28.5

24.0

24.5

25.0

25.5

26.0

26.5

27.0

27.5

28.0

28.5

25.3

26.3

26.5

25.8

25.525.4

25.2

26.6

28.1

27.1

26.7

25.625.7

24.7

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TOTAL EXEMPTIONS & DEDUCTIONS(percent of total gross income*)

* Adjusted gross income plus exemptions & deductions.Source: Internal Revenue Service.

Figure 9.

Tax Deductions



2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015.6

.8

1.0

1.2

1.4

1.6

.6

.8

1.0

1.2

1.4

1.6

0.89

0.80

0.75

0.83

0.93

1.02

1.12

1.03

0.87

0.95

1.05

1.19

1.24

1.38

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TOTAL INDIVIDUAL INCOME TAXES PAID(trillion dollars)


Figure 10.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201511

12

13

14

15

16

11

12

13

14

15

16

14.4

13.2

12.112.3

12.612.7 12.8

12.5

11.4

11.8

12.5

13.1

13.6

14.1

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TOTAL INDIVIDUAL INCOME TAXES PAID(percent of adjusted gross income)


Figure 11.

Individuals Income Tax Data



2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20155000

6000

7000

8000

9000

10000

5000

6000

7000

8000

9000

10000

6817

6127

5735

6292

6957

7399

7803

7242

6164

6660

7192

81978382

9271

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AVERAGE TAXES PAID PER RETURN(dollars)


Figure 12.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20158000

10000

12000

14000

16000

8000

10000

12000

14000

16000

9364

87658410

9335

10322

11043

1159411386

10572

11269 11398

1276813055

14264

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AVERAGE TAXES PAIDBY THOSE PAYING TAXES(dollars)


Figure 13.

Individuals Income Tax Data



Figure 14.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20151.70

1.75

1.80

1.85

1.90

1.70

1.75

1.80

1.85

1.90

1.82 1.811.80

1.79 1.79 1.80

1.84

1.76

1.72

1.77 1.771.74

1.76 1.76

ADJUSTED GROSS INCOME BY GROUP(trillions dollars) $0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20151.8

2.0

2.2

2.4

1.8

2.0

2.2

2.4

1.84 1.86 1.89

1.982.03

2.12

2.21 2.192.14

2.17 2.20 2.222.27 2.30$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20151.0

1.5

2.0

2.5

3.0

1.0

1.5

2.0

2.5

3.0

1.11 1.11 1.171.29

1.431.61

1.79 1.85 1.80 1.871.98

2.102.21

2.36$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015.4

.6

.8

1.0

1.2

1.4

1.6

.4

.6

.8

1.0

1.2

1.4

1.6

0.58 0.55 0.580.68

0.790.90

1.00 0.990.91

0.991.08

1.191.28

1.42$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015.5

1.0

1.5

2.0

2.5

.5

1.0

1.5

2.0

2.5

0.820.70 0.78

1.06

1.381.61

1.84

1.47

1.061.29 1.35

1.86

1.58

1.93 yarden

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$500,000 & Over


Adjusted Gross Income By Group



Figure 15.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201591

92

93

94

95

96

91

92

93

94

95

96

92.8 92.692.1

91.3 91.2

92.2

93.893.3

92.9

94.1

95.0

92.993.6

92.7

INCOME TAX RETURNS FILED BY INCOME GROUP(number, millions)

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201526

28

30

32

26

28

30

32

26.5 26.6 26.9

28.228.8

30.0

31.2 30.930.2

30.5 30.9 31.131.8

32.2$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20158

10

12

14

16

18

20

8

10

12

14

16

18

20

8.5 8.4 8.99.7

10.812.1

13.5 13.9 13.5 14.014.8

15.616.4

17.5$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20151

2

3

4

5

6

1

2

3

4

5

6

2.0 1.9 2.02.3

2.73.1

3.5 3.53.2

3.53.8

4.24.5

5.0$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015.1

.3

.5

.7

.9

1.1

1.3

1.5

.1

.3

.5

.7

.9

1.1

1.3

1.5

0.5 0.5 0.50.7

0.80.9

1.00.9

0.70.8

0.9

1.1 1.11.2

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$500,000 & Over


Tax Returns Filed By Income Group



Figure 16.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015600

800

1000

1200

1400

1600

1800

600

800

1000

1200

1400

1600

1800

1331

11061007 978 952 930 924

838

656 677807 816 813 832

AVERAGE TAXES PAID PER INCOME GROUP(dollars)

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20155000

6000

7000

8000

9000

5000

6000

7000

8000

9000

8041

7336

66326338 6208 6150 6114 5968

52545470

6132 6179 6233 6251

$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201514000

16000

18000

20000

22000

24000

14000

16000

18000

20000

22000

24000

2187520794

18397 17996 17527 17321 16993 1676915700 16033

16873 16962 16956 16977

$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201550000

55000

60000

65000

70000

50000

55000

60000

65000

7000066683

65374

6038559292

5822056717 56232 55713 55186 55542 55871 55751 55847 55536

$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015340000

360000

380000

400000

420000

440000

340000

360000

380000

400000

420000

440000422524

393971

358533370976

386762 389313396059

381482

353634

368362

354061

385409

403287

422190

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$500,000 & Over


Average Income Taxes Paid Per Income Group



Figure 17.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20153

6

9

12

15

18

21

3

6

9

12

15

18

21

13.912.8 12.4

10.79.3 8.4 7.8 7.6 7.0 6.7 7.3

6.4 6.2 5.6

INCOME TAXES PAID BY INCOME GROUPAS PERCENT OF TOTAL

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201510

15

20

25

30

10

15

20

25

30

24.0 24.5 23.921.5

19.118.0 17.1 17.9 18.3 17.6 18.1

16.2 16.114.6

$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201520

21

22

23

24

25

26

20

21

22

23

24

25

26

20.9

22.0 21.8

21.1

20.3 20.4 20.5

22.5

24.5

23.6 23.8

22.3 22.6

21.6

$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201515

16

17

18

19

20

21

22

15

16

17

18

19

20

21

22

15.215.7

16.116.7 17.1 17.3 17.6

18.8

20.4 20.3 20.319.5

20.3 20.1$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201520

24

28

32

36

40

44

20

24

28

32

36

40

44

26.1 25.0 25.8

30.0

34.335.9 37.0

33.2

29.831.9

30.4

35.6 34.9

38.2 yarden

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$500,000 & Over


Taxes Paid By Income Group As % Of Total



Figure 18.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015.0

.3

.6

.9

1.2

1.5

1.8

2.1

2.4

.0

.3

.6

.9

1.2

1.5

1.8

2.1

2.4

1.51.3

1.1 1.0 0.9 0.9 0.8 0.80.6 0.6 0.7 0.7 0.7 0.7

INCOME TAXES PAID BY INCOME GROUPAS PERCENT OF GROUP’S ADJUSTED GROSS INCOME

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20157

8

9

10

11

12

7

8

9

10

11

12 11.6

10.5

9.59.0 8.8 8.7 8.6 8.4

7.47.7

8.6 8.7 8.7 8.7

$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201511

12

13

14

15

16

17

18

11

12

13

14

15

16

17

18

16.615.8

14.0 13.6 13.2 13.0 12.8 12.611.8 12.0

12.6 12.6 12.6 12.6

$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201519

20

21

22

23

24

19

20

21

22

23

2423.3

22.7

20.920.6

20.219.8 19.5 19.5 19.5 19.6 19.7 19.5 19.6 19.5

$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201522

24

26

28

30

22

24

26

28

30

28.3 28.3

24.8

23.623.2 22.8 22.4

23.424.4

23.5 23.522.8

27.4 27.3

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$500,000 & Over


Taxes Paid By Income Group As % Of Gross Income



Figure 19.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20156

8

10

12

14

16

18

6

8

10

12

14

16

18

13.1

11.3 10.7 10.4 10.3 10.3 10.29.6

8.0 8.0

9.6 9.8 9.8 9.8

INCOME TAXES PAID BY INCOME GROUPAS PERCENT OF GROUP’S TAXABLE INCOME

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201511

12

13

14

15

16

17

18

11

12

13

14

15

16

17

18

16.6

15.3

13.913.3 13.2 13.1 13.1 12.8

11.4 11.6

12.9 13.0 13.0 13.0

$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201515

17

19

21

23

15

17

19

21

2322.0

21.0

18.618.2 18.0 17.7 17.4 17.3

16.3 16.317.0 16.9 16.8 16.7

$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201523

24

25

26

27

28

29

23

24

25

26

27

28

29

27.927.3

25.024.6

24.3 24.2 24.024.5 24.5 24.6 24.6

24.1 23.923.6

$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201524

26

28

30

32

34

24

26

28

30

32

34

32.0 32.0

27.9

26.4 26.0 25.8 25.4

27.0

28.427.4 27.5

26.2

31.430.9

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$500,000 & Over


Taxes Paid By Income Group As % Of Taxable Income



Figure 20.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201560

63

66

69

72

75

78

60

63

66

69

72

75

78

71.2 71.2 70.669.1

67.966.7

65.6 65.5 66.1 65.8 65.464.1 63.5

62.4

INCOME TAX RETURNS FILED BY INCOME GROUPAS PERCENT OF TOTAL

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201520.0

20.5

21.0

21.5

22.0

22.5

20.0

20.5

21.0

21.5

22.0

22.5

20.320.5

20.6

21.321.4

21.721.8 21.7

21.5 21.4 21.221.5

21.6 21.7

$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20156

7

8

9

10

11

12

13

6

7

8

9

10

11

12

13

6.5 6.5 6.87.4

8.08.7

9.4 9.7 9.6 9.8 10.210.8 11.1

11.8$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20151.0

1.5

2.0

2.5

3.0

3.5

4.0

1.0

1.5

2.0

2.5

3.0

3.5

4.0

1.5 1.5 1.51.8

2.02.3

2.4 2.42.3

2.42.6

2.93.0

3.4$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015.3

.5

.7

.9

1.1

.3

.5

.7

.9

1.1

0.4 0.4 0.40.5

0.60.7

0.70.6

0.50.6 0.6

0.8 0.7

0.8

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$500,000 & Over


Tax Returns Filed By Income Group As % Of Total



Figure 21.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20159

12

15

18

9

12

15

18

13.214.1 14.4

13.512.9

12.4 12.112.9

14.513.8 13.4

12.5 12.711.9

INDIVIDUAL INCOME TAX DEDUCTIONS BY GROUPAS PERCENT OF GROUP’S ADJUSTED GROSS INCOME

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201530

31

32

33

34

35

36

30

31

32

33

34

35

36

30.5

31.432.0

32.5

33.533.9

34.334.7

35.2

34.033.6 33.4

33.0 32.8

$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201524

25

26

27

28

24

25

26

27

28

24.4

25.025.2 25.3

26.4 26.526.8

27.5 27.6

26.6

26.0

25.424.9

24.6

$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201515

18

21

24

15

18

21

24

16.7 16.7 16.3 16.5 16.8

18.3 18.5

20.8 20.8 20.6 20.119.2

18.117.6

$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201510

12

14

16

10

12

14

16

11.8 11.511.1

10.6 10.8

11.6 11.7

14.114.6 14.3

14.7

13.2 13.1

11.6

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$500,000 & Over


Deductions By Income Group As % Of Gross Income



Figure 22.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201515

20

25

30

35

40

15

20

25

30

35

40

29.5 30.0 29.026.3

24.222.4 21.1 21.3 22.6 21.9 21.1

19.1 19.318.0

ADJUSTED GROSS INCOME BY GROUPAS PERCENT OF TOTAL ADJUSTED GROSS INCOME

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201520

22

24

26

28

30

32

34

20

22

24

26

28

30

32

34

29.830.8 30.4

29.2

27.326.4

25.426.5

28.126.8 26.2

24.3 25.023.6

$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201515

18

21

24

27

15

18

21

24

27

18.1 18.4 18.9 19.0 19.320.0

20.6

22.323.6 23.1 23.6 23.1

24.3 24.2$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20159

10

11

12

13

14

15

16

9

10

11

12

13

14

15

16

9.4 9.1 9.310.0

10.611.1

11.612.0 11.9 12.2

12.9 13.0

14.014.5$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201510

15

20

25

10

15

20

25

13.311.6

12.5

15.6

18.620.1

21.2

17.8

13.9

16.0 16.1

20.4

17.3

19.7

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$500,000 & Over


Gross Income By Group As % Of Gross Income



Figure 23.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201550

75

100

125

150

175

50

75

100

125

150

175

123

10293 89 87 86 87

78

61 6477 76 76 77

INCOME TAXES PAID BY INCOME GROUP(billion dollars)

$0-$50,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015150

160

170

180

190

200

210

220

150

160

170

180

190

200

210

220 213

195

179 179 179184

191185

158167

189 192198 201$50,000-$100,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015150

175

200

225

250

275

300

325

150

175

200

225

250

275

300

325

185175

163175

189209

229 232212

224

249265

279297$100,000-$200,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015100

140

180

220

260

300

100

140

180

220

260

300

135 125 121139

159177

196 194176

193212

232251

276$200,000-$500,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015100

200

300

400

500

600

100

200

300

400

500

600

232199 193

250

320367

413

343

258304 318

423 432

526

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$500,000 & Over


Taxes Paid By Income Group



Figure 24.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015.0

.1

.2

.3

.4

.5

.6

.0

.1

.2

.3

.4

.5

.6

0.2 0.2 0.20.2

0.30.4

0.40.3

0.20.3 0.3

0.40.3

0.4

INCOME TAX RETURNS FILED BY MILLIONAIRES(number, millions)

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20155

10

15

20

5

10

15

20

9.47.9 8.6

11.2

13.815.1

16.1

13.0

9.511.4 11.3

15.2

12.0

14.0

ADJUSTED GROSS INCOME OF MILLIONAIRESAS PERCENT OF TOTALADJUSTED GROSS INCOME

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201510

11

12

13

14

15

16

10

11

12

13

14

15

16

11.511.1

10.810.3 10.4

11.1 11.2

13.514.1

13.514.1

12.713.4

11.6

DEDUCTIONS OF MILLIONAIRESAS PERCENT OF THEIR ADJUSTED GROSS INCOME

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201510

15

20

25

30

10

15

20

25

30

12.010.3

11.4

14.7

17.919.3

20.5

16.6

12.314.6 14.2

18.8

14.817.2

TAXABLE INCOME OF MILLIONAIRESAS PERCENT OF TOTAL TAXABLE INCOME

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 201515

20

25

30

35

15

20

25

30

35

18.517.0 17.7

21.4

25.226.7

27.8

24.1

20.522.6

21.1

26.024.8

27.6

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INCOME TAXES PAID BY MILLIONAIRESAS PERCENT OF TOTAL TAXES PAID


Income Tax Snapshot of Millionaires



0

50

100

150

200

250

300

350

400

450

500

550

0

50

100

150

200

250

300

350

400

450

500

550

89

179 175

139

250

77

201

297276

526

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INCOME TAXES PAID BY INCOME GROUP (2004 & 2014)(billion dollars)

$0-$50,000 $50,000-$100,000

$100,000-$200,000

$200,000-$500,000

$500,000 &Over

2004 2014


Figure 25.

0

10

20

30

40

50

60

70

80

90

100

110

0

10

20

30

40

50

60

70

80

90

100

110

91.3

28.2

9.7

2.3 0.7

92.7

32.2

17.5

5.01.2

INCOME TAX RETURNS FILED BY INCOME GROUP (2004 & 2014)(number, millions)

$0-$50,000 $50,000-$100,000

$100,000-$200,000

$200,000-$500,000

$500,000 &Over

2004 2014


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Figure 26.

Income Tax Snapshot Of 2004 & 2014



0

50

100

150

200

250

300

350

400

450

0

50

100

150

200

250

300

350

400

450

1.0 6.318.0

59.3

371.0

0.8 6.317.0

55.5

422.2

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AVERAGE TAXES PAID BY INCOME GROUP (2004 & 2014)(thousand dollars)

$0-$50,000 $50,000-$100,000

$100,000-$200,000

$200,000-$500,000

$500,000 &Over

2004 2014


Figure 27.

0

10

20

30

40

0

10

20

30

40

10.7

21.5 21.1

16.7

30.0

5.6

14.6

21.620.1

38.2

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INCOME TAXES PAID BY INCOME GROUPAS PERCENT OF TOTAL (2004 & 2014)

$0-$50,000 $50,000-$100,000

$100,000-$200,000

$200,000-$500,000

$500,000 &Over


Figure 28.




0

10

20

30

40

50

60

70

80

0

10

20

30

40

50

60

70

80

69.1

21.3

7.4

1.8 0.5

62.4

21.7

11.8

3.40.8

INCOME TAX RETURNS FILED BY INCOME GROUPAS PERCENT OF TOTAL (2004 & 2014)

$0-$50,000 $50,000-$100,000

$100,000-$200,000

$200,000-$500,000

$500,000 &Over

2004 2014


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Figure 29.




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Income Taxes Paid By Income Level - Home » Yardeni … Economic Briefing: Income Taxes Paid By Income Level Yardeni Research, Inc. May 2, 2017 Dr. Edward Yardeni 516-972-7683 [email protected]