Thursday_315 - Taxes on Average Worker As percentage of...

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1 Income tax plus employer and employee contributions2 Taxes on Average Worker As percentage of labor cost 17.3 17.2 16.3 16.1 16.4 16.4 6.9 . Korea 18.2 16.2 18.1 17.5 15.9 16.8 27.2 24.4 Mexico 25.7 26.2 24.2 24.5 25.8 28.9 36.9 39.8 Ireland 27.7 27.4 27.4 30.5 24.9 24.8 19.5 21.5 Japan 29.1 29.1 29.2 29.4 29.6 29.7 31 31.3 United States 29.5 29.4 29.7 30.1 30.1 30 30.6 27.3 Switzerland 31.6 32 32 32.1 32 33.2 31.5 29 Canada 33.5 33.4 33.3 31.9 31.8 32.1 33.4 33.2 United Kingdom 37.3 37.4 37.2 37.5 37.5 37.9 37.3 36 OECD average 38.6 38.6 37.1 37.4 37.2 39.7 44.8 46.5 Netherlands 38.8 38.3 37.7 37.7 38.1 38.4 35.6 33 Greece 39 38.7 38.5 39.1 38.8 38.6 38.5 36.5 Spain 41.4 41.3 42.6 42.6 43.6 44.3 45.2 46.7 Denmark 42.1 42.1 41.8 42 42.4 43.3 43.3 41.5 EU15 average 45.4 45.4 45 46 46 46.4 50.3 48.8 Italy 47.4 47.5 47.4 47.1 46.9 47.3 41.2 39.1 Austria 47.9 48.4 48.2 47.8 49.1 50.1 49.3 46 Sweden 50.1 49.8 49.8 49.8 49.8 49.6 49.1 . France 51.8 53.3 51.5 53.6 53 53.9 50.2 46.4 Germany 2005 2004 2003 2002 2001 2000 1995 1991 Disposable Income by Quintile 7.3% 44% 1977 42% 23% 17% 12% 5% 1950 37% 24.5% 18.5% 13.2% 6.8% 1982 38.9% 24.5% 18.1% 12.5% 6.1% 1984 11.4% Top One Percent 49% 46.5% 44.6% Highest Fifth 24.1% 23.7% Fourth Fifth 16% 16.5% Middle Fifth 9.5% 10.6% Second Fifth 3.8% 4.6% Lowest Fifth 1994 1991 1990
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2 Average After-Tax Income in 1994 - 132,955 241,176 374,131 Top One Percent - 8,681 71,736 80,417 Highest Fifth 1,903 39,129 37,227 Fourth Fifth 1,797 27,448 25,651 Middle Fifth 2,812 19,352 16,540 Second Fifth $2,654 $9,829 $7,175 Lowest Fifth The Difference If group's share of the national income had been the same as in 1977 Actual U.S. Distribution of Wealth The Top 1% controls 25% of nation’s wealth. The Top 2% owns approximately 80% of stocks, 85% of corporate stocks and nearly all state and municipal bonds. Top Fifth owns approximately 75% of nation’s wealth and pays 58’% of federal tax revenue (before the 1997Clinton and 2001GWB tax cuts) Lowest Fifth owns less than 1% of the nation’s wealth and pays 1.6% of federal tax revenue The Shrinking Middle Class 1978-1986 The Federal Debt and K-12 Education
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3 Corporat e v Individual Taxes Dismantling the Middle Class The Changing American Wage and Salary Structure Disposable Income 1977-1994 Adjusted for inflation, average after-tax disposable income increased 9.5%. After tax income
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Thursday_315 - Taxes on Average Worker As percentage of...

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