www.businessinsider.com - 2 years ago

7,000 Millionaires Paid No Income Tax In 2011

The chart below from the Tax Policy Center shows the distribution of federal income taxes paid by income level in 2011.

It contains a number of interesting data points, including the following:

  • 7,000 people made more than $1 million but paid no income tax
  • 22,000 people made between $500,000 and $1 million but paid no income tax
  • 81,000 people made between $200,000 and $500,000 but paid no income tax
  • 381,000 people made between $100,000 and $200,000 but paid no income tax.

So that's 491,000 Americans who made more than $100,000 a year who paid no income tax. (Clearly dependent victims who refuse to take responsibility for their lives!)

Also:

  • 45% of the country makes less than $30,000 per year
  • 30% of the country makes less than $20,000 per year
  • 15% of the country makes less than $10,000 per year

Also:

  • 60 million of the 76 million Americans who pay no income tax make $30,000 or less

Also:

  • 25 million Americans make more than $100,000 per year--15% of the total
  • 6.7 million Americans make more than $200,000 per year--4% of the total
  • 1.3 million Americans make more than $500,000 per year--less than 1% of the total
  • 433,000 Americans make more than $1 million per year--less than 0.2% of the total

Here's the chart (click for larger):

incometaxpaidbyincome.png

Please follow Business Insider on Twitter and Facebook.

Join the conversation about this story »

Top News