Washington DC History Resources

Matthew B. Gilmore

Federal Income Tax bracket revenue visualization

 

Discussions of the recent tax cuts debate benefits to various groups of taxpayers and statistics abound about how much the top 1% or 5% (or similar) pay in taxes. This tax cut cut the brackets:

  • 10 percent > 10 percent
  • 15 percent > 12 percent
  • 25 percent > 22 percent
  • 28 percent > 24 percent
  • 33 percent > 32 percent
  • 35 percent > 35 percent
  • 39.6 percent > 37 percent

bracketrevenue

Fig. 1) also PDF: bracketrevenue

So–what does that mean in context–what does the revenue distribution look like by bracket?

  • how much revenue is currently generated by each tax bracket?
  • how many filers are in each bracket?

I could not find any reporting on or visualization of those statistics. Rather the Tax Foundation publishes percentages

FF491_1

Fig. 2) FROM: https://taxfoundation.org/summary-latest-federal-income-tax-data-2015-update/

Looking at the IRS statistics of Income one can pull out the data to visualize it.

“Table 3.6 Returns with Modified Taxable Income: Taxable Income and
Tax Classified by Each Rate at Which Tax Was Computed and by Marital
Status, Tax Year 2015 (Filing Year 2016)”

Click: 15in36tr

Fig. 1 above is my visualization of the statistics, removing the capital gains for simplicity’s sake.

What percentage of revenue does each bracket bring in?

10 percent — 9.93%
15 percent — 27.26%
25 percent — 22.06%
28 percent — 8.72%
33 percent — 8.78%
35 percent — 1.35%
39.6 percent — 21.90%

What percent of filers fall in each bracket?

10 percent — 45.78%
15 percent — 34.59%
25 percent — 13.97%
28 percent — 3.44%
33 percent — 1.31%
35 percent — 0.50%
39.6 percent — 0.41%

bracket filers revenue
  10 percent 45.78% 9.93%
  15 percent 34.59% 27.26%
  25 percent 13.97% 22.06%
  28 percent 3.44% 8.72%
  33 percent 1.31% 8.78%
  35 percent 0.50% 1.35%
  39.6 percent 0.41% 21.90%

bracketrevenue

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This entry was posted on January 28, 2018 by in Income taxation, Taxation, Visualization.
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