The Washington Post has denounced the inclusion of bonus depreciation in the just-passed tax extenders bill for 2014. The correct term is “partial expensing.” There is nothing “bonus” about it. The...
- The Tax Policy Blog
- Nearly Half of All Taxpayers Are over 45
Nearly Half of All Taxpayers Are over 45
This chart illustrates the aging of America’s taxpayers over a very short span of 14 years as the Baby Boomer generation moved through adulthood into their pre-retirement work years. In 1997, just 39 percent of all taxpayers were older than age 45. Today, nearly half (48 percent) are over 45 and that figure will likely continue to climb as more and more Baby Boomers get closer to retirement. Indeed, in 1997, just 10 percent of taxpayers were between the ages of 55 and 65. Today, 15 percent of taxpayers are in that age group. Moreover, in 1997, taxpayers over age 45 earned just over half of all income (53 percent). Today, they earn 62 percent of all income.
For more charts like the one below, see the second edition of our chart book, Putting a Face on America's Tax Returns.
Subscribe to the Tax Foundation Newsletter
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.