| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Historic effective tax rate by income bracket | ||||||||||||||
2 | |||||||||||||||
3 | ($ Billions) | ($ Billions) | |||||||||||||
4 | CPI Index | 2009 Income Level and 1980 Equivalaent | Closest Income Bracket | AGI | Tax Paid | Effective Tax Rate | Income Percentile | 2009 Income Level and 1980 Equivalaent | Closest Income Bracket | AGI | Tax Paid | Effective Tax Rate | Income Percentile | ||
5 | 2009 | 220 | 1,000,000 | 1,000,000-1,500,000 | 130.1 | 32.8 | 25.2% | 0.09-0.17% | 250,000 | 200,000-500,000 | 905.3 | 176.3 | 19.5% | 0.5-2.8% | |
6 | 1980 | 78 | 354,545 | 200,000-500,000 | 4.64 | 1.77 | 38.2% | 0.01-0.02% | 88,636 | 50,000-100,000 | 89.1 | 21.0 | 23.6% | 0.2-2.0% | |
7 | |||||||||||||||
8 | Effective Tax Rate 1980 over 2009 | 51% | 21% | ||||||||||||
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10 | |||||||||||||||
11 | Potential additional tax revenue by returning to 1980 effective tax rates: ($ Billions) | ||||||||||||||
12 | |||||||||||||||
13 | ALTERNATIVE | ||||||||||||||
14 | 2009 income bracket: | AGI | Increase in Effective Tax Rate | Potential Additional Tax Rev | Increase in Effective Tax Rate | Potential Additional Tax Rev | |||||||||
15 | 200,000-500,000 | $905.3 | 4% | $36 | 4% | $36 | |||||||||
16 | over 500,000 | $1,058.0 | 13% | $138 | 20% | $212 | |||||||||
17 | $174 | $248 | |||||||||||||
18 | |||||||||||||||
19 | EXPLANATION OF ALTERNATIVE: | ||||||||||||||
20 | Though not shown on this chart, the effective tax rate on incomes over $1,000,000 AGI in 1980 was 48%. | ||||||||||||||
21 | In 2009 the effective tax rate on the highest income bracket (i.e. over $10 million) was 22.5%; i.e. 25.5 pts less than in 1980. | ||||||||||||||
22 | If the average increase in the effective tax rate on incomes over 500,000 was increased by 20 pts, the total potential additional revenue would be $248 billion. | ||||||||||||||