Archive for May 14th, 2015
Hell On Wheels — Government Train Wreck Kills 8, Injures 200 Plus — Speeding At Over 100 Miles Per Hour in A 50 MPH Zone — Northeast Regional Train 188, from Washington to New York — Democrats Want More Money and Subsidies For Amtrak — Stop Subsidizing Silly Walks — $1 Billion Per Year For 44 Years in Subsidies To Amtrak — $45 Billion Total — Hell of A Way To Run A Railroad — Shut It Down — Videos
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Story 1: Hell On Wheels — Government Train Wreck Kills 8, Injures 200 Plus — Speeding At Over 100 Miles Per Hour in A 50 MPH Zone — Northeast Regional Train 188, from Washington to New York — Democrats Want More Money and Subsidies For Amtrak — Stop Subsidizing Silly Walks — $1 Billion Per Year For 44 Years in Subsidies To Amtrak — $45 Billion Total — Hell of A Way To Run A Railroad — Shut It Down — Videos
Government Subsidies and Incentives Explained by AMC’s Hell On Wheels
7 killed, over 200 injured in Amtrak crash
Speed Eyed as Possible Cause of Amtrak Crash: Sources
GOP moves to slash Amtrak budget nearly 20% day after fatal train crash
Time to derail heavily subsidized Amtrak
Randal O’Toole on transportation privatization
Rep. Denham Talks Passenger Rail Reform and Investment Act
New York Bound Amtrak Train Derails Near Philadelphia, 50 Injured (BREAKING NEWS)
Amtrak Train Derails, At Least 5 Dead
Former Congressman Patrick Murphy Shares Experience Aboard Philadelphia Derailed Amtrak Train – CBS
“Should the Government Subsidize…Silly Walks? | LearnLiberty”
Why Are Gas Prices So High?
Government Subsidies
Microeconomics – Subsidies
Obama Addresses Poverty in Washington Panel
Obama: Tax Hedge Funds More
Source: Amtrak train thought to be going twice as fast as it should have been
By Greg Botelho and Kevin Conlon
How do all seven cars and the engine of an Amtrak train jump the rails, sending passengers, luggage, laptops and more flying?
One possibility jumped ahead of all others Wednesday: speed.
Authorities haven’t said, definitively, what caused the derailment of Amtrak Northeast Regional Train 188 in Philadelphia on Tuesday night. But a source briefed by investigators said the train was believed to have been traveling in excess of 100 mph. That would be about twice the 50 mph speed limit for the curve it was in.
An official with direct knowledge of the investigation earlier said that authorities were focusing on speed as a possible cause, given the angles of the wreckage and type of damage to the cars. The recorder, or “black box,” discovered at the scene could be pivotal by showing just that, former National Transportation Safety Board official John Goglia said.
Peter Goelz, also once a top NTSB figure and now a CNN analyst, predicted that a definitive conclusion could come soon.
“I’m afraid that this train might be going too fast for this turn,” he said.
NTSB board member Robert Sumwalt has said only that his team will examine things such as the condition of the track and the train, how the signals operated and “human performance.”
Even if it’s determined the train was going too fast, that could be due to the engineer or a mechanical issue, like faulty brakes.
“You have a lot of questions, we have a lot of questions,” Sumwalt told reporters late Wednesday morning. “We intend to answer many of those questions in the next 24 to 48 hours.”
Midshipman, AP staffer among the 7 dead
Whatever the cause, it doesn’t change the suffering that many experienced Wednesday — be they survivors dealing with physical and emotional trauma, or relatives of the seven people killed after a few frenetic, horrific moments. Some 238 passengers and five crew members were on the train when it crashed around 9:30 p.m. Tuesday.
One of those who didn’t make it was Jim Gaines, a father of two who worked as a video software architect for The Associated Press, his company said.
Another was a U.S. Naval Academy midshipman in full uniform heading home to New York on leave from the Annapolis, Maryland, school. A family member described 20-year-old Justin Zemser as a great person and genius whose death has left his parents “beside themselves.”
Hospitals have treated more than 200 others, at least half of whom have been released. That figure included eight in critical condition among the 25 wounded passengers at Temple University Hospital — the closest trauma center to the crash site — according to Herb Cushing, the hospital’s medical director.
He said many passengers were injured when other passengers or objects fell on them. One of those hurt is the train’s engineer, who received medical treatment and was interviewed by police, Philadelphia Mayor Michael Nutter said.
Authorities have not ruled out the possibility of more victims at the crash site.
“We are heartbroken by what we’ve experienced here,” Nutter said Wednesday morning. “We have not experienced anything like this in modern times.”
Amtrak train crash victims tell their stories
‘A lot of questions’
The miracle may be how some escaped relatively unscathed, given the severity of the derailment. A U.S. Department of Transportation representative told CNN that the engine and two cars were left standing upright, three cars were tipped on their sides, and one was nearly flipped over on its roof. The seventh one was “leaning hard.”
“It is amazing,” Nutter told CNN. “I saw some people last night literally walking off that train. I don’t know how they did it.”
The Washington-New York corridor is the busiest stretch for Amtrak nationwide. Hundreds of trains, carrying thousands of passengers, have made that trip in recent years, most of them rolling seamlessly from start to finish on a roughly 3½-hour journey.
That’s what seemed to be happening Tuesday night, passenger Daniel Wetrin told CNN.
“Everything was normal,” he said. “Then it was just chaos.”
Jeremy Wladis was in the very last car, eating, when he noticed the train starting to do “funny things. And it gradually starts getting worse and worse.”
Things started flying — phones, laptops. “Then people.”
“There were two people in the luggage rack above my head. Two women, catapulted (there).”
As she read a book in the second-to-last car, Janna D’Ambrisi said, she “felt like we were going a little too fast around a curve. The car she was in started to tip, and she was thrown onto another girl.
“People started to fall on us,” she said. “I just held on to her leg and sort of bowed my head and I was kind of praying, ‘Please make it stop.’ “
Fortunately, D’Ambrisi’s train car didn’t tip over and she made it out safely. She credited many people — including one fellow passenger who guided people with his shoes off — for stepping up.
“Everyone was just trying to help the people who were injured, who had blood coming out of their head, their noses, to help them sit down in the dirt away from the rails,” she said.
Former congressman on board tweets after the crash
‘Heavily used stretch of track’
The locomotive was built by Siemens and delivered to Amtrak in 2014 specifically for its Northeast Corridor service, a Siemens official said. That makes it fairly new, which doesn’t rule out the train’s condition playing a role in the crash but seemingly makes it less likely.
One factor that can’t be discounted is where the crash happened.
“It’s an extremely heavily used stretch of track,” transportation analyst Matthew L. Wald said of the area. “They have trouble keeping it in a state of good repair.”
The derailment was Amtrak’s ninth this year alone, according to the Federal Railroad Administration, and while its cause has not yet been determined, some, like Wald, are already discussing the nation’s aging rail infrastructure.
Noting President Barack Obama’s commitment to upgrading the country’s infrastructure, White House press secretary Josh Earnest said that the Obama administration is “hard at work” trying to figure out what caused the crash, and that their thoughts and prayers are with the families of everyone affected.
“Along the Northeast Corridor, Amtrak is a way of life for many,” the President said later in a statement. “From Washington, D.C., and Philadelphia to New York City and Boston, this is a tragedy that touches us all.”
http://www.cnn.com/2015/05/13/us/philadelphia-amtrak-train-derailment/
Amtrak Train That Derailed Was Going 100 M.P.H., Officials Say; 7 Killed
By JON HURDLE, JAD MOUAWAD and RICHARD PÉREZ-PEÑA
The Amtrak train that derailed in Philadelphia on Tuesday night, killing at least seven people, was traveling at a speed of at least 100 miles an hour, twice the speed limit on that stretch of track, according to the National Transportation Safety Board.
The train’s speed was recorded in the so-called black box data recorders that were recovered from the wreckage, according to officials with knowledge of the investigation, while emergency crews searched for more survivors and victims of a wreck that injured more than 200 people.
The recorders were taken to Amtrak’s operations center in Delaware to download information like the train’s speed, images from a video camera on the engine and a log of when the train’s operator used tools like the brake, throttle and horn, officials said at a news conference.
Passengers who emerged battered and bloodied described a chaotic, terrifying scene, with people thrown against walls, furniture and each other, and luggage and other loose items flying through the air and hitting people.
The wreck occurred as the New York-bound train made a sharp left turn at a rail yard called Frankford Junction, northeast of downtown, where multiple freight and passenger routes converge, and Amtrak’s Northeast Corridor makes one of its sharpest turns.
The speed limit on that curve is 50 miles an hour, according to the Federal Railroad Administration, and on either side of the curve it is 70 m.p.h. That area, in the Port Richmond section of the city, does not have a safety system called Positive Train Control that can, among other features, automatically reduce the speed of a train that is going too fast.
Mayor Michael A. Nutter of Philadelphia, at a news conference, refuted reports that the engineer who was driving the train had refused to speak to investigators. “The engineer was injured, received medical care, and was interviewed by the Philadelphia Police Department,” he said.
“It is an absolute disastrous mess,” Mr. Nutter said of the scene. “Never seen anything like this in my life.”
He confirmed reports that the death toll had reached seven, with more than 200 people injured, and said that for now, the focus of emergency crews combing through the twisted wreck was “making sure that we are searching every car, every inch, thousands of square feet, to find individuals that may have been on the train.”
“We are heartbroken at what has happened here,” he said. “We have not experienced anything like it in modern times.”
By midday, the names of the victims began to trickle out. The United States Naval Academy confirmed that one of its midshipmen was among the dead, and family members identified him as Justin Zemser of Rockaway Beach, in Queens, a former student body president at Channel View High School.
“We’re not ready to talk yet. We are just grieving, and when we are ready we will be in touch,” said a relative, who did not want to be identified.
The Associated Press said that one of its employees, Jim Gaines, 48, a video software architect who lived in Plainsboro, N.J., was also killed.
Another victim was Rachel Jacobs, chief executive officer of ApprenNet, an education technology company in Philadelphia, whose co-workers spent most of the day Wednesday unsure of what had happened to her. A friend, Michelle Kedem, said she had received a text message from Ms. Jacobs’s family confirming her death.
Mr. Nutter said some passengers have not yet been found, but officials were still not sure how many. “We have not completely matched the manifest that we received from Amtrak with the patient or hospital records,” he said.
People trying to find loved ones congregated first at Philadelphia’s 30th Street Station, then at a temporary aid station the city set up at an elementary school, and finally at the Marriott Hotel downtown, where Amtrak opened a family center.
Philadelphia’s director of emergency management, Samantha Phillips, said, “Our hospitals treated over 200 patients last night and this morning.”
The train, Northeast Regional Train 188, from Washington to New York,was pulled by an ACS-64 electric locomotive built by Siemens, a model first put into service last year that is capable of speeds up to 125 miles per hour.
It jumped the tracks at about 9:30 p.m. Tuesday, tossing around the passengers and crew, as most of the train’s seven passenger cars tumbled onto their sides and crumpled. One car was particularly badly mangled, looking like nothing so much as a crushed and torn soda can. One car struck a steel utility pole, and a stretch of bent and twisted track could be seen near the wreckage, indicating the sheer force of the crash.
Passengers described a quiet ride turned suddenly chaotic and terrifying.
“The guy next to me was unconscious, so I just kind of picked him up and slapped him in the face and said ‘Hey buddy, get up, get up,’ and he came to,” said Patrick J. Murphy, a former congressman from Pennsylvania, who was on the train.
The engine pulling the train separated from the passenger cars, left the tracks, rumbled through a dirt area and came to rest diagonally across other sets of tracks.
After the crash, emergency workers carrying flashlights and ladders moved frantically from car to car helping passengers off the train, some bloodied, others dazed. Parts of the damaged cars were so badly mangled that firefighters had to use hydraulic tools to rescue people trapped inside.
Amtrak reported that 238 passengers and five crew members were supposed to be on the train, but officials cautioned that those figures were inexact; off-duty Amtrak employees could have been aboard without appearing on passenger manifests, and people who bought tickets might have missed the train.
Investigators from the National Transportation Safety Board began to arrive before 5 a.m., said Robert Sumwalt, a board member, adding that they may be able to release more information on Wednesday afternoon. The F.B.I. was also investigating.
On Wednesday, a giant crane moved into position and began attempting to lift the damaged cars. The wreck severed Amtrak’s Northeast Corridor, one of the nation’s busiest rail routes, and the Southeast Pennsylvania Transportation Authority’s commuter train line from Philadelphia to Trenton, stranding thousands of passengers and threatening to snarl travel for days or weeks to come.
Temple University Hospital received 54 patients from the wreck, including one who died overnight from a massive chest injury, Herbert E. Cushing, the chief medical officer, said Wednesday morning. He said that most of the patients suffered fractures from being thrown around the train, and that 25 remained in the hospital, including eight people in critical condition.
“There were lots of people from all around the world” among the injured, he said, including patients from Albania, India and Spain.
About 20 minutes before the crash, on the same line but a few miles away, “an unknown projectile” struck a SEPTA commuter train and damaged a window, an authority spokeswoman said. Mr. Nutter said that had “nothing to do with this incident.”
Amtrak service continued between Philadelphia and Washington on a modified schedule, but no trains were able to run between Philadelphia and New York.
The derailment took place in roughly the same area of track that was the site of one of the nation’s deadliest rail accidents. On Labor Day in 1943, a 16-car Pennsylvania Railroad Congressional Limited train carrying military service members on leave derailed near the same curve, killing 79 people and injuring 117.
Officials concluded that a hot journal box had burned off and caused an axle to snap, which sent the train catapulting off the track.
http://www.nytimes.com/2015/05/14/us/amtrak-train-derails-crash-philadelphia.html?_r=0
Amtrak Bill Continues History of Wasted Subsidies
Congressional Republicans were elected on a platform of cutting spending, but taxpayers will continue to pay for Amtrak’s losses for at least 5 more years if a bill that just passed the House becomes law. Can’t Congress do better?
Amtrak has cost the government over $45 billion in subsidies over the last 44 years, allowing it to finance the upkeep of unprofitable routes, overstaffed trains, and the mismanagement of its food services.
The bipartisan Passenger Rail Reform and Investment Act of 2015 would subsidize Amtrak by an estimated $7 billion from 2016 to 2020. It passed the House by 316 votes to 101 votes on Wednesday and is now headed to the Senate and, presumably, President Obama’s signature. Amtrak has been operating without official funding authorization since the previous bill expired in October 2013.
Despite generous taxpayer subsidies, Amtrak has run operating losses every year since it began operating in 1971. Although these losses are declining, in 2014, the railroad reported what it described as a “strong” result, with an operating loss of only $227 million.
The operating loss is unlikely to continue to decline due to the losses in Amtrak’s long-distance routes, which bleed about $600 million annually. After factoring in depreciation and other expenses, Amtrak lost a total of $1.1 billion in 2014.
The railroad’s food and beverage service has been singled out in recent years by both government watchdogs and Congress for its wasteful use of government subsidies. Amtrak lost over $900 million from 2003 to 2013 on food services alone.
In a 2012 congressional hearing, Rep. John Mica (R-FL) noted that a $9 cheeseburger sold on an Amtrak train actually costs $16 after factoring in the services’ operating expenses, and the $7 shortfall is subsidized taxpayers. A 2013 Inspector General report found that employee-pass riders who are offered free trips on Amtrak also received complimentary meals, resulting in a $240,000 loss for the railroad in 2012.
A provision in the 2015 bill requires Amtrak to develop and implement a plan to eliminate the losses from its food and beverage in five years, but a similar rule passed decades ago failed to achieve savings. Amtrak was required by Congress to turn a profit from its food and beverage service in 1981, but the railroad never complied. A 1997 law went a step further by requiring Amtrak to operate subsidy-free by 2002, but losses continued, along with government subsidies.
The 2015 bill lacks an effective mechanism to force Amtrak’s food service to become solvent in an enforceable timeframe, thus allowing Amtrak to continue losing money without fear of losing its subsidies. The millions lost from its food services are dwarfed by the billions spent on labor costs and mismanagement of funds, and will continue as long as subsidies prevent accountability for the losses.
The $1 billion in annual subsidies have not covered all of Amtrak’s expenses, and the company has incurred an estimated $1 billion in non-federal debt. The 2015 bill authorizes $625 million in federal funds to pre-pay Amtrak’s non-federal debt as the railroad has been unable to renegotiate favorable terms to result in savings.
Amtrak’s largest expense is labor, salary, and benefits, which cost over $2 billion in 2014. Maintaining fully-staffed trains on infrequently-traveled routes has contributed to high labor costs, but the pay rate of Amtrak’s employees raise its costs substantially. The average onboard employee made $41.19 an hour on Amtrak in 2012, while railroads that contracted out services to private companies paid their employees $7.75 to $13.00 an hour.
Base pay may already be substantial, but regulations and poor oversight allowed employees to pocket $185 million in overtime pay in 2013. The management allowed employee misconduct and wasteful business practices to thrive, even as at the same time it hindered plans to make train stations accessible to the disabled to comply with the Americans with Disability Program.
Amtrak’s did not meet ADA’s goals due to lack of structure and a strategy, according to a 2014 IG report. Management activities took up 46% of the $100 million budget, $6.5 million was spent on unrelated projects, and an undetermined amount was shipped out of state on non-ADA projects.
The ADA program’s failure was rooted in a lack of vision, goals and objectives, and was compounded by a lack of accountability and decision making authority. The IG’s summation of the ADA program reflects problems inherent to Amtrak’s culture. Its promises of reform have never fully materialized into solvency, and its failure to follow congressional mandates never resulted in penalties. Amtrak has never made a profit because it doesn’t need to.
Privatizing Amtrak is the only option certain to prevent billions of taxpayer dollars from being wasted while providing the benefits that accompany competitive services. Congress should develop a plan to privatize the railroad and allow for private companies to compete for routes.
America has successfully privatized rail before, as freight railroads were once unprofitable enterprises subsidized by the federal government until the industry was deregulated and sold to private investors in the 1980s. The industry has thrived since routes were opened up to competition.
Amtrak has had 44 years to become solvent without success. Reducing labor costs can be an effective interim measure, but deregulating the passenger rail system is the best way to ensure improved service and lower fares for consumers. Cutting Amtrak’s subsidies and ending its monopoly is a responsible alternative to passing inneffective reforms.
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Economic Illiterate Obama On Life’s Lottery Winners — Wealth, Job and Income Creators Pay Over 70% of Federal Income Taxes — Obama Wants More — Greedy Progressive Politicians Use Government To Steal Other People’s Money — Videos
Posted on May 14, 2015. Filed under: American History, Banking, Blogroll, Books, Business, College, Constitution, Corruption, Economics, Education, Employment, Family, Federal Government, Federal Government Budget, Fiscal Policy, Freedom, government, government spending, history, Inflation, Investments, IRS, Law, liberty, Life, Links, Literacy, media, Monetary Policy, Money, Money, People, Philosophy, Photos, Politics, Press, Public Sector, Radio, Railroads, Rants, Raves, Regulations, Resources, Speech, Talk Radio, Tax Policy, Taxes, Transportation, Unemployment, Unions, Video, Wealth, Welfare, Wisdom, Writing | Tags: 14 May 2015, 8 Killed, America, Amtrak, articles, Audio, Breaking News, Broadcasting, Business Formation, Capital Formation, capitalism, Cartoons, Charity, Citizenship, Clarity, Classical Liberalism, Collectivism, Commentary, Commitment, Communicate, Communication, Concise, Convincing, Courage, Culture, Current Affairs, Current Events, Eat The Rich, economic growth, economic policy, Economics, Education, Employment, Evil, Experience, Faith, Family, First, fiscal policy, Frédéric Bastiat, free enterprise, freedom, freedom of speech, Friends, Give It A Listen, God, Good, Goodwill, Government Interference, government intervention, government spending, Government Subsidies, Growth, Hedge Fund Managers, Hope, Income Creation, Income Taxes Paid, Individualism, Job Creation, Jobs, Knowledge, liberty, Life, Life's Lottery Winners, Love, Lovers of Liberty, monetary policy, MPEG3, News, Opinions, Peace, Photos, Podcasts, Political Philosophy, Politics, President Barack Obama, Progressives, prosperity, Radio, Raymond Thomas Pronk, Representative Republic, Republic, Resources, Respect, rule of law, Rule of Men, Show Notes, Summary of Latest Federal Income Tax Data, Talk Radio, taxation, Taxes, The Pronk Pops Show, The Pronk Pops Show 464, Top 1, Train Wreck, Truth, Tyranny, U.S. Constitution, United States of America, Videos, Virtue, War, wealth creation, Wealth Redistribution, Wisdom |
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Pronk Pops Show 464 May 14, 2015
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Story 1: Economic Illiterate Obama On Life’s Lottery Winners — Wealth, Job and Income Creators Pay Over 70% of Federal Income Taxes — Obama Wants More — Greedy Progressive Politicians Use Government To Steal Other People’s Money — Videos
“But how is this legal plunder to be identified?
Quite simply. See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong.
See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.”
“The state is that great fiction by which everyone tries to live at the expense of everyone else.”
~Frédéric Bastiat
Obama Dismisses Wealthy Americans As ‘Society’s Lottery Winners’
Obama: Tax Hedge Funds More
EAT THE RICH!
IDIOTS – Who pays the most taxes – Franklin vs Marx
Why the Rich Never Pay Taxes
Why The Rich Pay Lower Taxes
Summary of Latest Federal Income Tax Data
The Internal Revenue Service has recently released new data on individual income taxes for calendar year 2012, showing the number of taxpayers, adjusted gross income, and income tax shares by income percentiles.[1]
The data demonstrates that the U.S. individual income tax continues to be very progressive, borne mainly by the highest income earners.
Taxpayers Reported $9.04 Trillion in Adjusted Gross Income and Paid $1.19 Trillion in Income Taxes in 2012
Taxpayers reported $9.04 trillion in adjusted gross income (AGI) on 136.1 million tax returns in 2012. This represents $725 billion in additional income over 2011 on 500,000 fewer tax returns. While the majority of the income gain went to the top 5 percent of taxpayers (those making $175,817 or more), every income group experienced an increase in income in 2012. Due to the increase in incomes, taxes paid increased by $142 billion to $1.185 trillion in 2012. Taxes paid increased for all income groups.
The share of income earned by the top 1 percent increased to 21.9 percent of total AGI, the highest level since the peak year of 2007 (22.9 percent of total AGI). The share of the income tax burden for the top 1 percent increased to 38.1 percent from 35.1 percent in 2011, also the highest level since the peak in 2007 (39.8 percent).
Table 1. Summary of Federal Income Tax Data, 2012
Number of Returns*
AGI ($ millions)
Income Taxes Paid ($ millions)
Group’s Share of Total AGI (IRS)
Group’s Share of Income Taxes
Income Split Point
Average Tax Rate
136,080,353
9,041,744
1,184,978
100.0%
100.0%
1,360,804
1,976,738
451,328
21.9%
38.1%
22.8%
5,443,214
1,354,206
247,215
15.0%
20.9%
18.3%
6,804,018
3,330,944
698,543
36.8%
58.9%
21.0%
6,804,017
996,955
132,902
11.0%
11.2%
13.3%
13,608,035
4,327,899
831,445
47.9%
70.2%
19.2%
20,412,053
1,933,778
192,601
21.4%
16.3%
10.0%
34,020,088
6,261,677
1,024,046
69.3%
86.4%
16.4%
34,020,089
1,776,123
128,017
19.6%
10.8%
7.2%
68,040,177
8,037,800
1,152,063
88.9%
97.2%
14.3%
68,040,177
1,003,944
32,915
11.1%
2.8%
3.3%
Top 50 Percent of All Taxpayers Paid 97.2 Percent of All Federal Income Taxes; Top 1 Percent Paid 38.1 Percent; and Bottom 90 Percent Paid 29.7 Percent of All Federal Income Taxes
Figure 1 shows the distribution of AGI and income taxes paid by income percentiles in 2012. In 2012, the bottom 50 percent of taxpayers (those with AGIs below $36,055) earned 11.1 percent of total AGI. This group of taxpayers paid approximately $33 billion in taxes, or 2.8 percent of all income taxes in 2012.
In contrast, the top 1 percent of all taxpayers (taxpayers with AGIs of $434,682 and above), earned 21.9 percent of all AGI in 2012, but paid 38.1 percent of all federal income taxes.
Combined, the top 1 percent of taxpayers (those with AGIs above $434,682) accounted for more income taxes paid than the bottom 90 percent (those with AGIs below $125,195) combined. In 2012, the top 1 percent of taxpayers paid $451 billion in income taxes, or 38.1 percent of all income taxes while the bottom 90 percent paid $353 billion in income taxes, or 29.8 percent of all income taxes paid.
The Top 1 Percent’s Effective Tax Rate Is Nearly Seven Times Higher than the Bottom 50 percent’s
The 2012 IRS data shows that taxpayers with higher incomes pay much higher effective income tax rates than lower-income taxpayers.
The bottom 50 percent of taxpayers (taxpayers with AGIs under $36,055) faced an average effective income tax rate of 3.3 percent. As taxpayer AGI increases, the IRS data shows that average income tax rates rise. For example, taxpayers with AGIs between the 10th and 5th percentile ($125,195 and $175,817) pay an average effective rate of 13.3 percent—four times the rate paid by those in the bottom 50 percent.
The top 1 percent of taxpayers (AGI of $434,682 and higher) paid the highest effective income tax rate at 22.8 percent, 6.9 times the rate faced by the bottom 50 percent of taxpayers. The top 1 percent’s average effective tax rate for 2012 of 22.8 percent was slightly lower than that of 2011 (23.5 percent).
Taxpayers at the very top of the income distribution, the top 0.1 percent, which includes taxpayers with incomes over $2.2 million, actually paid a slightly lower income tax rate than the top 1 percent (21.7 percent versus 22.8 percent). This is due to the fact that very high income taxpayers are more likely to report a greater share of their income as taxable capital gains income. This leads to a slightly lower effective tax rate because capital gains and dividends income faces a lower top income tax rate (23.8 percent) than wage and business income (39.6 percent). It is important to note, however, that capital gains taxes at the individual level are the second layer of tax after the corporate income tax (which is 35 percent).
Appendix
(1) For data prior to 2001, all tax returns that have a positive AGI are included, even those that do not have a positive income tax liability. For data from 2001 forward, returns with negative AGI are also included, but dependent returns are excluded.
(2) Income tax after credits (the tax measure above) does not account for the refundable portion of EITC. If it were included (as is often the case with other organizations), the tax share of the top income groups would be higher. The refundable portion is legally classified as a spending program by the Office of Management and Budget and therefore is not included by the IRS in these figures.
(3) The only tax analyzed here is the federal individual income tax, which is responsible for about 25 percent of the nation’s taxes paid (at all levels of government). Federal income taxes are much more progressive than payroll taxes, which are responsible for about 20 percent of all taxes paid (at all levels of government), and are more progressive than most state and local taxes (depending upon the economic assumption made about property taxes and corporate income taxes).
(4) AGI is a fairly narrow income concept and does not include income items like government transfers (except for the portion of Social Security benefits that is taxed), the value of employer-provided health insurance, underreported or unreported income (most notably that of sole proprietors), income derived from municipal bond interest, net imputed rental income, worker’s compensation benefits, and others.
(5) Tax return is the unit of analysis, which is broader than households, especially for those at the bottom end, many of which are dependent returns (prior to 2001). Some dependent returns are included in the figures here prior to 2001, and under other units of analysis (like the Treasury Department’s Family Economic Unit) would likely be paired with their parents’ returns.
(6) These figures represent the legal incidence of the income tax, although most distributional tables (such as those from CBO, Tax Policy Center, Citizens for Tax Justice, the Treasury Department, and JCT) assume that the entire economic incidence of personal income taxes falls on the income earner.
[1] Internal Revenue Service, SOI Tax Stats–Individual Income Tax Rates and Tax Shares,http://www.irs.gov/uac/SOI-Tax-Stats-Individual-Income-Tax-Rates-and-Tax-Shares.
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