Personal Taxes: Federal Income Taxes by Deciles of Income Before Taxes: Ninth 10 Percent (81st to 90th Percentile)
CXUFEDTAXESLB1510M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,500.00
Year-over-Year Change
53.05%
Date Range
1/1/2014 - 1/1/2023
Summary
This trend measures federal income taxes paid by individuals in the ninth decile of income before taxes, representing the 81st to 90th percentile. It provides insights into the tax burden of higher-income households.
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 Deciles of Income Before Taxes: Ninth 10 Percent trend tracks the average federal income taxes paid by taxpayers in the 81st to 90th percentile of income. This measure offers a detailed view of the progressive structure of the U.S. income tax system.
Methodology
The data is collected from tax return information by the U.S. Internal Revenue Service.
Historical Context
This metric is used by policymakers and economists to analyze the distributional effects of the federal income tax code.
Key Facts
- The ninth income decile represents taxpayers between the 81st and 90th percentiles of income.
- In 2020, the ninth decile paid an average of $41,798 in federal income taxes.
- Federal income taxes account for a significant portion of the total tax burden for higher-income households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average federal income taxes paid by individuals in the ninth decile of income before taxes, representing taxpayers between the 81st and 90th percentiles of income.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the tax burden of higher-income households, which is useful for policymakers and economists analyzing the distributional effects of the federal income tax system.
Q: How is this data collected or calculated?
A: The data is collected from tax return information by the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and economists to assess the impact of changes to the federal income tax code on different income groups.
Q: Are there update delays or limitations?
A: The data is subject to the typical publication schedule and potential revisions of the U.S. Internal Revenue Service.
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Citation
U.S. Federal Reserve, Personal Taxes: Federal Income Taxes by Deciles of Income Before Taxes: Ninth 10 Percent (CXUFEDTAXESLB1510M), retrieved from FRED.