I updated a previous graph, comparing the effective tax rates for the Federal Individual Income and Social Insurance (payroll) by adding Excise and Corporate Income. Additionally, I added the tax rates for the Top 1%. Note: the effective tax rate increases for both individual and corporate income the higher the household's income, while the social insurance and excise tax rate decreases. {Click on the image to take a closer look}
Minimum household income: Lowest Quintile $0 Second Quintile $17,900 Middle Quintile $30,500 Fourth Quintile $45,200 Highest Quintile $67,400 Top 1% $307,500
Data from Congressional Budget Office
