3 Tax Day Charts to Boost Your Blood Pressure

Who’s paying—and dodging—the taxman today.


As another Tax Day arrives, here are three charts that may not ease the pain of paying the taxman, but may help put it in perspective.

The top 1 percent of earners are expected to pay nearly half of all 2014 federal income taxes, while the lowest 80 percent will pay 15 percent. However, according to the IRS, the top 400 taxpayers by income saw their total real income grow 338 percent between 1992 and 2012, while their average tax rate dropped more than 35 percent. 

And while federal income tax rates go up with income, when you account for state and local taxes, the effective tax rate faced by each income group starts to look less progressive, according to Citizens for Tax Justice. And, as Vox‘s Dylan Matthews points out, the tax burden for roughly 65 percent of American families comes from payroll taxes along with state and local taxes.

In the last 60 years, the share of federal tax revenue from individual tax income has remained relatively stable. Meanwhile, the share from payroll taxes has steadily increased while corporate taxes’ share has declined. While companies complain about steep taxes, consider that major US companies have stashed billions in profits overseas, beyond the reach of the IRS.

REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

payment methods

REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate