A Progressive Tax System

Notwithstanding anecdotes about billionaires who pay lower tax rates than their secretaries, the tax system is progressive.  According to a new report from the Congressional Budget Office, here are the average 2009 federal tax rates by income quintile:

• Lowest Quintile 1.0%
• Second Quintile 6.8%
• Middle Quintile 11.1%
• Fourth Quintile 15.1%
• Highest Quintile 23.2%

And here is the share of the tax burden by quintile:

• Lowest Quintile 0.3%
• Second Quintile 3.8%
• Middle Quintile 9.4% 
• Fourth Quintile 18.3% 
• Highest Quintile 67.9%