Home > Uncategorized > 7,000 Millionaires Paid No Income Tax – Business Insider

7,000 Millionaires Paid No Income Tax – Business Insider

September 19, 2012 Leave a comment Go to comments

7,000 Millionaires Paid No Income Tax – Business Insider.

The chart below from the Tax Policy Center shows the distribution of federal income taxes paid by income level in 2011.

It contains a number of interesting factoids, including the following:

  • 7,000 people made more than $1 million but paid no income tax.
  • 22,000 people made between $500,000 and $1 million but paid no income tax.
  • 81,000 people made between $200,000 and $500,000 but paid no income tax.
  • 381,000 people made between $100,000 and $200,000 but paid no income tax.

So that’s 491,000 Americans who made more than $100,000 a year who paid no income tax. (Clearly dependent victims who refuse to take responsibility for their lives!)

Also:

  • 45% of the country makes less than $30,000 per year.
  • 30% of the country makes less than $20,000 per year.
  • 15% of the country makes less than $10,000 per year.

Also:

  • 60 million of the 76 million Americans who pay no income tax make $30,000 or less.

Also:

  • 25 million Americans make more than $100,000 per year—15% of the total.
  • 6.7 million Americans make more than $200,000 per year—4% of the total.
  • 1.3 million Americans make more than $500,000 per year—less than 1% of the total.
  • 433,000 Americans make more than $1 million per year—less than 0.2% of the total.

Here’s the chart (click for larger):

Income Tax Paid By Income

 

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