Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Average AGI reported on all 2009 individual income tax returns was $54,283, and average taxable income was $48,851.5 These amounts represent decreases of 6.4 percent and 6.7 percent, respectively, from the 2008 amounts of $58,005 and $52,345.
Figure F shows that the average tax rate for 2009 (i.e., total income tax divided by AGI reported on all returns, taxable and nontaxable) was 11.4 percent, a decrease of 1.1 percentage points from 2008. While the average tax rate fell for all income levels below $200,000 of AGI, every income class above $500,000 had higher average tax rates for 2009. The increases in the average tax rate ranged from 0.3 percentage point ($500,000 to $1,000,000) to 1.5 percentage points ($5,000,000 and over). The main reason for these increases was the significant drop in the percentage of AGI that was reported as longterm capital gains (in excess of short-term losses) and qualified dividends. This income was taxed at a maximum of 15-percent rate as opposed to up to a 35-percent rate for ordinary income. In 2008, for example, taxpayers with AGI $10 million or more reported 47.5 percent of their income as capital gains and dividends, while in 2009, this same income group reported 35.8 percent. Including every group from $200,000 to $10 million or more, the percentage dropped from 19.4 percent in 2008 to 12.3 percent in 2009.
For 2009, average tax rates increased for each income category up to AGI of $5 million or less. The average tax rate peaked at 25.7 percent for returns in the AGI class $2 million under $5 million. For the classes above this level, average tax rates declined to a low of 22.4 percent for taxpayers with AGI of $10 million or more. The main reason for this decline is that individuals in the classes above $5 million or more tended to report a larger percentage of their AGI as long-term capital gains and qualified dividends, compared to individuals in the lower AGI classes. For example, while individuals reporting AGI of $1.5 million under $2 million averaged 14.4 percent of their income as capital gains and dividends, this share increased in each succeeding class, reaching 35.8 percent for those individuals reporting AGI of $10 million or more.
I do not believe she is anymore unique, or due privacy than Joe the plumber is. Support the use of yourself, or circumstances, and one is no longer just a private citizen. She opened the kimono. Or rather, she allowed Warren and Obama did.
Thanks for this! They scrutinized Joe, an innocent citizen. That was no problem.
If she's a single filer, making over $35K a year in taxable income, her tax rate is higher than Buffetts. The rest is just arguing in circles. Why is this so hard for some of you to understand?
Says who? I haven't seen the PROOF that verifies what her tax rate is. Have you?
When she decided to sit in Michelle Obama's box to be used to push policy based on her income and tax rate, she gave people the right to ask.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
