FACTS:
The bottom 50% of all taxpayers paid an average tax rate of only 1.85%.
The bottom 75% of all taxpayers paid an average tax rate of only 4.11%.
The bottom 90% of all taxpayers paid an average tax rate of only 5.75%.
The bottom 95% of all taxpayers paid an average tax rate of only 6.7%.
So how could Mitt Romney's taxes be "probably less than you"?
Table 1
Summary of Federal Income Tax Data, 2009
|
|
Number of Returns with Positive AGI |
AGI ($ millions) |
Income Taxes Paid ($ millions) |
Group's Share of Total AGI |
Group's Share of Income Taxes |
Income Split Point |
Average Tax Rate |
|
All Taxpayers |
137,982,203 |
$7,825,389 |
$865,863 |
100.0% |
100.0% |
- |
11.06% |
|
Top 1% |
1,379,822 |
$1,324,572 |
$318,043 |
16.9% |
36.7% |
$343,927.00 |
24.01% |
|
1-5% |
5,519,288 |
$1,157,918 |
$189,864 |
14.8% |
22.0% |
|
16.40% |
|
Top 5% |
6,899,110 |
$2,482,490 |
$507,907 |
31.7% |
58.7% |
$154,643.00 |
20.46% |
|
5-10% |
6,899,110 |
$897,241 |
$102,249 |
11.5% |
11.8% |
|
11.40% |
|
Top 10% |
13,798,220 |
$3,379,731 |
$610,156 |
43.2% |
70.5% |
$112,124.00 |
18.05% |
|
10-25% |
20,697,331 |
$1,770,140 |
$145,747 |
22.6% |
17.0% |
|
8.23% |
|
Top 25% |
34,495,551 |
$5,149,871 |
$755,903 |
65.8% |
87.3% |
$ 66,193.00 |
14.68% |
|
25-50% |
34,495,551 |
$1,620,303 |
$90,449 |
20.7% |
11.0% |
|
5.58% |
|
Top 50% |
68,991,102 |
$6,770,174 |
$846,352 |
86.5% |
97.7% |
> $32,396 |
12.50% |
|
Bottom 50% |
68,991,102 |
$1,055,215 |
$19,511 |
13.5% |
2.3% |
< $32,396 |
1.85% |
Source: Internal Revenue Service