Personal Taxes: Federal Income Taxes by Race: White and All Other Races, Not Including Black or African American
CXUFEDTAXESLB0903M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,121.00
Year-over-Year Change
660.67%
Date Range
1/1/2003 - 1/1/2023
Summary
This economic trend tracks federal income taxes paid by White and non-Black racial groups in the United States. It provides insights into the tax burden and financial obligations of different demographic segments.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Personal Taxes: Federal Income Taxes by Race series measures the total federal income taxes paid by White and all other racial groups excluding Black or African American individuals. This data is a key indicator of the relative tax responsibilities and financial contribution of different racial cohorts within the U.S. population.
Methodology
The data is collected and calculated by the U.S. Internal Revenue Service based on individual income tax returns.
Historical Context
Policymakers and economists analyze this trend to understand the distribution of the federal tax burden across racial demographics.
Key Facts
- White individuals paid the highest total federal income taxes in the latest data.
- The tax burden for non-Black racial groups has remained relatively stable over time.
- Tax obligations vary significantly based on income levels within each racial cohort.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total federal income taxes paid by White individuals and all other racial groups excluding Black or African American taxpayers in the United States.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the distribution of the federal tax burden across different racial demographics, which is important for policymakers and economists analyzing equity and economic inclusion.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Internal Revenue Service based on individual income tax returns.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand the relative tax responsibilities and financial contributions of different racial groups, which informs discussions around tax policy, income inequality, and racial economic disparities.
Q: Are there update delays or limitations?
A: The data is published with a lag due to the time required for the IRS to process and aggregate individual tax return information.
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Citation
U.S. Federal Reserve, Personal Taxes: Federal Income Taxes by Race: White and All Other Races, Not Including Black or African American (CXUFEDTAXESLB0903M), retrieved from FRED.