RSSComparison of Share of Income to Share of Income Taxes Paid in 2007
 This chart illustrates the progressive structure of the federal income tax system as seen in the average tax rates (center column) computed from tax returns filed in 2007. For example, the top left block indicates that the top 1% of tax returns reported $2.0 trillion in adjusted gross income, which was 22.8% of the total adjusted gross income of $8.8 trillion for the year. Read more… |
Income Taxes Paid by Individuals in 2007
 The Internal Revenue Service uses percentile categories (Top 1%, 95% – 99%, 90% – 95%, etc.) for purposes of analyzing income tax data. A total of 141,070,972 tax returns were filed by individuals in 2007. The IRS analyzes tax return statistics to determine various percentages. For example, this table indicates that the top 10% of taxpayers paid $794 billion which accounted for 71.2% of the total income taxes Read more… |
Receipts and Outlays of the US Government Fiscal Year 2009
 The Monthly Treasury Statement of Receipts and Outlays of the United States Government is prepared by the Financial Management Service, Department of the Treasury. For the first nine months of fiscal year 2009, outlays have averaged approximately $316 billion per month, while receipts have averaged approximately $176 billion per month for an average deficit of $140 billion per month. Read more… |
Unemployment Rises Again In June
 Nonfarm payroll employment continued to decline in June(-467,000 jobs lost), and the unemployment rate was little changed at 9.5 percent the Bureau of Labor Statistics of the U.S. Department of Labor reported on July 2, 2009. Job losses were widespread across the major industry sectors, with large declines occurring in manufacturing, professional and business services, and construction. Read more… |
CBO (Congressional Budget Office) Forecasts Even Larger Deficits
 The CBO forecasts much larger deficits than it did just a month ago due to newly announced programs and bailout spending. The CBO now estimates the budget deficit for 2009 will be an astonishing $1.845 trillion. Read more… |
CBO (Congressional Budget Office) Forecasts Massive Deficits
 The sharp downturn in housing markets across the country, which undermined the solvency of major financial institutions and severely disrupted the functioning of financial marketsRead more… |
Current Dollar and Real Gross Domestic Product
 Gross Domestic Product (GDP) is one of the most comprehensive and closely watched economic statistics. It is used by the White House and Congress to prepare the federal budget, by the Federal Reserve to formulate monetary policy, by Wall Street as an indicator of economic activity, and by the business Read more… |
Average Interest Rates on U.S. Treasury Securities
 The graph illustrates the Average Interest Rates for marketable and non-marketable securities (United State Treasury Bills, Notes and Bonds) over a two-year period for comparative purposes. The interest rate is weighted by the amount of unmatured securities outstanding in each category. Read more… |