Saturday, December 15, 2012

The real numbers of who does and doesn't have federal income tax liability

I did some time consuming research. According to the Tax Policy Center, in 2009, households with a positive cash flow, here are the numbers for those who did and did not have any federal income tax liability.   

Numbers showing who had federal income tax liability (total 46.9%, here's the breakdown)
99.8% (18.6 million) earning less than 10K
83.6% (20.6 million) earning between $10-20K
61.8% (
12.5 million) earning between $20-30K
47.5% (7.3 million) earning between $30-40K
35.5% (4.3 million) earning between $40-50K
21.1% (4.4 million) earning between $50-75K
9.1% (1.3 million) earning between $75-100K
3.5% (628,000) earning between $100-200K
1.9% (97,000) earning between $200-500K
1.9% (16,000) earning between $500K-1 million
1.5% (6,000) earning more than $1 million

Now, in that same chart, here are those who had tax liability

0.2% (30 mill) earning less than 10K
16.4% (4.04 mill) earning between $10-20K
93.2% (7.7 mill) earning between $20-30K
53% (8.08 mill) earning between $30-40K
64.5% (7.9 mill) earning between $40-50K
78.9% (16.2 mill) earning between $50-75K
91%% (12.9 mil) earning between $75-100K
96.5% (17.4 mill) earning between $100-200K
98.1% (4.9 mill) earning between $200-500K
98.1% (850,000) earning between $500K-1 million
99% (384,000) earning more than $1 million

So, according to these numbers, 6,134,000 positive income tax units, as they are called (those at 200K and up) had tax liability.

Now if you add in the 119,000 in the first table who earned 200,000 or higher, who had no tax liability, but should have....we now have a total of 6,253,000 at $200,000 per year and up who will have their taxes increased. (Don't forget though that we have to subtract a few from this number because Obama wants those at $250K and higher not $200K and higher. I don't know the number of those earning between $200 and 250K)

In the end, according to this table, out of 151,485,000 with a positive cash income: \

145,232,000 (earning $0-199,000K) will not have their taxes increased.

6,253,000 (earning $200,000+) will have their taxes increased

The numbers don't lie. So...what gives?

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