Congressional Budget Office

Average Income: PreTax vs AfterTax 2005

by Catherine Mulbrandon

I created this graph showing the average income for different household percentiles, comparing pretax income and aftertax income. The minimum income threshold for each percentile is noted in the graph.

{Click on the image to take a closer look}

Data from Congressional Budget Office

[tags]United States, Income tax, average income[/tags]

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Tax Rates: Individual Income vs Social Insurance 2005

by Catherine Mulbrandon

in VE Infographics

Inspired by the tax rate graph in my previous post, I created this graph comparing the effective tax rates for the Federal Individual Income tax and Social Insurance (payroll) tax by household quintile. The Earned Income Tax Credit accounts for the negative individual income tax rate for the lowest and second quintiles.

{Click on the image to take a closer look}

Data from Congressional Budget Office

[tags]Tax Rates, United States, Income tax, Social Security[/tags]

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Historical Tax Rates by Income Group: Part 2

by Catherine Mulbrandon

in Other

In an earlier post, I had a graph showing the Historical Tax Rates by Income Group using data from Pitketty & Saez. Here is another graph (found on Greg Mankiw’s Blog) which shows historical tax rates by income group but this time the data is from the Congressional Budget Office.

CBO total effective tax rate

Addendum 3/3/08
The large difference between the two graphs is due to the treatment of payroll taxes paid by employers and the corporate income tax. The Pitketty & Saez data assumes these taxes are actually paid by employees and stockholders but the CBO data in the above graph does not include them.

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Comparing Income Series

by Catherine Mulbrandon

in History of the United States, VE Infographics

I have been working on a graph to show how different US income data series compare to one another. I have plotted 8 income series from 4 different sources, including average and median income. Also I used the CPI-U to adjust each series to 2005 dollars instead of 2002$, 2003$ and 2004$.

Click on the graph to take a closer look: