Taxes
The federal tax and budget system transfers resources from richer households to low- and moderate-income households.
Income is highly concentrated among the top 1 percent : Market income, 2015
Year
Income before taxes and transfers
Lowest quintile
$8,900
2nd quintile
$35,800
Middle quintile
$63,200
4th quintile
$102,200
Highest quintile
$289,200
81-90
$152,000
91-95
$209,400
96-99
$351,800
Top 1%
$1,854,900
After taxes and transfers, income varies less widely: Income after taxes and transfers, 2015
Year
2014
Lowest quintile
$37,300
2nd quintile
$51,000
Middle quintile
$65,600
4th quintile
$90,100
Highest quintile
$216,000
81-90
$123,700
91-95
$164,000
96-99
$262,300
Top 1%
$1,243,700
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