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lost tax revenue 1980 vs 2009 tax regulations
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Historic effective tax rate by income bracket
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($ Billions)
($ Billions)
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CPI Index2009 Income Level and 1980 EquivalaentClosest Income BracketAGITax PaidEffective Tax RateIncome Percentile2009 Income Level and 1980 EquivalaentClosest Income BracketAGITax PaidEffective Tax RateIncome Percentile
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20092201,000,0001,000,000-1,500,000130.132.825.2%0.09-0.17%250,000200,000-500,000905.3176.319.5%0.5-2.8%
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198078354,545200,000-500,0004.641.7738.2%0.01-0.02%88,63650,000-100,00089.121.023.6%0.2-2.0%
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Effective Tax Rate 1980 over 200951%21%
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Potential additional tax revenue by returning to 1980 effective tax rates: ($ Billions)
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ALTERNATIVE
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2009 income bracket:AGIIncrease in Effective Tax RatePotential Additional Tax RevIncrease in Effective Tax RatePotential Additional Tax Rev
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200,000-500,000
$905.34%$364%$36
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over 500,000$1,058.013%$13820%$212
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$174$248
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EXPLANATION OF ALTERNATIVE:
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Though not shown on this chart, the effective tax rate on incomes over $1,000,000 AGI in 1980 was 48%.
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In 2009 the effective tax rate on the highest income bracket (i.e. over $10 million) was 22.5%; i.e. 25.5 pts less than in 1980.
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If the average increase in the effective tax rate on incomes over 500,000 was increased by 20 pts, the total potential additional revenue would be $248 billion.
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