In the previous blog post, I showed how the income profiles of taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. returns differ across income groups. In the table below, I do the same for different age groups for tax returns (based upon the age reported on the tax return of the primary taxpayer.) This is based upon new data by age available from the IRS Statistics of Office division.
|
Age Group |
Salaries/Wages |
Taxable Interest |
Cap Gains/Dividends |
Biz Income |
Taxable Retirement |
Taxable S.S. |
All Other |
|
All Returns |
66.31% |
3.04% |
12.99% |
7.95% |
7.25% |
1.90% |
0.56% |
|
Under 18 |
55.05% |
5.19% |
30.27% |
3.95% |
1.98% |
0.44% |
3.12% |
|
18-34 |
91.75% |
0.62% |
2.75% |
3.45% |
0.59% |
0.02% |
0.82% |
|
35-44 |
80.44% |
1.52% |
8.25% |
7.76% |
1.22% |
0.06% |
0.74% |
|
45-54 |
74.10% |
2.03% |
11.32% |
9.69% |
2.07% |
0.21% |
0.58% |
|
55-64 |
59.10% |
3.41% |
15.74% |
9.97% |
10.22% |
1.21% |
0.37% |
|
65+ |
17.21% |
8.80% |
29.09% |
7.47% |
27.18% |
10.00% |
0.25% |