Greg Mankiw alerts us to the progressiveness of taxation with a chart that is, presumably, meant to stand on its own:

The CBO has released a new report on effective tax rates (total taxes divided by total income). Compared with previous reports, it includes more information about thin slices at the top of the income distribution. Here are the total effective federal tax rates for 2005, the most recent year available:

Lowest quintile: 4.3 percent
Second quintile: 9.9 percent
Middle quintile: 14.2 percent
Fourth quintile: 17.4 percent
Percentiles 81-90: 20.3 percent
Percentiles 91-95: 22.4 percent
Percentiles 96-99: 25.7 percent
Percentiles 99.0-99.5:29.7
Percentiles 99.5-99.9: 31.2 percent
Percentiles 99.9-99.99: 32.1 percent
Top 0.01 Percentile: 31.5 percent

N.B.: These figures include all federal taxes, not just income taxes.


So I'll go ahead and echo him with another chart from the same CBO report that can also stand on its own:

After-tax income

Lowest quintile: 15,300
Second quintile: 33,700
Middle quintile: 50,200
Fourth quintile: 70,300
Percentiles 81-90: 96,100
Percentiles 91-95: 125,500
Percentiles 96-99: 200,500
Percentiles 99.0-99.5:413,300

Percentiles 99.5-99.9: 830,100
Percentiles 99.9-99.99: 3,191,600
Top 0.01 Percentile: 24,286,300

N.B.: Waaaah.