Income Groups | Shares of Total | Taxes as % of Income Under Pre-TCJA | Taxes as % of Income Under Current Law | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Group | Income Range | Average Cash Income | Income | Taxes Pre-TCJA | Taxes Current Law | Federal Taxes | State & Local Taxes | Total Taxes | Federal Taxes | State & Local Taxes | Total Taxes |
Lowest 20% | Less than $24,000 | $14,400 | 2.8% | 1.9% | 2.0% | 8.3% | 12.8% | 21.1% | 7.6% | 12.8% | 20.4% |
Second 20% | $24,000–$43,000 | $33,800 | 6.6% | 5.0% | 5.0% | 12.1% | 11.4% | 23.6% | 11.0% | 11.4% | 22.4% |
Middle 20% | $43,000–$70,000 | $55,500 | 11.0% | 9.4% | 9.5% | 15.7% | 11.1% | 26.8% | 14.4% | 11.1% | 25.5% |
Fourth 20% | $70,000–$119,000 | $90,800 | 18.1% | 16.9% | 17.0% | 18.6% | 10.6% | 29.1% | 17.2% | 10.6% | 27.8% |
Next 15% | $119,000–$263,000 | $167,200 | 25.3% | 25.5% | 25.8% | 21.8% | 9.7% | 31.5% | 20.5% | 9.7% | 30.2% |
Next 4% | $263,000–$644,000 | $382,600 | 15.5% | 16.8% | 16.3% | 24.3% | 9.3% | 33.7% | 21.7% | 9.3% | 31.0% |
Top 1% | $644,000 or more | $2,012,400 | 20.9% | 24.5% | 24.3% | 26.7% | 9.9% | 36.6% | 24.5% | 9.9% | 34.4% |
ALL | $95,900 | 100.0% | 100.0% | 100.0% | 21.0% | 10.2% | 31.2% | 19.3% | 10.2% | 29.5% | |
Bottom 99% | Less than $644,000 | $80,100 | 79.4% | 75.5% | 75.7% | 19.4% | 10.3% | 29.7% | 17.9% | 10.3% | 28.2% |