From Home Furnishing Business
FastFact: Top 20% Pay Most Taxes, Have Highest Disposable Income
The top 20 percent of U.S. households make more than half of all income and pay 78.5 percent of all taxes, according to the latest Consumer Expenditure Survey from the Bureau of Labor Statistics.
The survey, which covered mid-2015 to mid-2016, also showed that households in the top 20 percent (defined as pre-tax income of more than $105,600), have 48.6 percent of all disposable income.
The second 20 percent, which includes pre-tax household income of $63,800 to $105,600, accounts for 23.5 percent of disposable income. The third 20 percent, which covers household income of $38,000 to $63,800, accounts for just 15 percent of disposable income.
For an in-depth look at the survey data, click here.