Who pays for the Stimulus?

adubinsky — Thu, 29 Jan 2009 03:33:16 +0000

I wanted to know who will PAY for the stimulus. I have heard numbers tossed out such as $6,700 per household, but not all households pay the same taxes. Most households pay nothing at all. So, I took the breakdown of who pays federal taxes by percentage of income and then looked at how many people that represents.

The top 1% of taxpayers pay 39% of all federal income taxes. It stands to reason that those same earners will be required to pay the same or similar percentage of the stimulus. How much is that going to be?

Bottom line: if you are in the top 1%, you can expect to pay almost $240,000 dollars of the stimulus.

Here’s the chart.

UPDATE:

Here are the rough breakdowns per HOUSEHOLD income.

Top 1% $~350,000
Top 5% $~150,000
Top 10% $~100,000
Top 25% $~64,000
Top 50% $~31,000

Who pays for the stimulus?

andrew dubinsky

Who pays for the Stimulus?