Unit 9
Accounting and Finance Foundations Unit 9: Taxes 721
Taxes
Chapter 21
Directions: Refer to tables A and B to answer the following questions.
- How many individual income tax returns were filed in 2009?
- What was the average tax rate paid by all individuals in 2009?
- What percent of income (AGI) is in the top 50 percent income group?
- What percent of taxes paid were from the top 50 percent income group?
- What percent of the income (AGI) came from the bottom 50 percent?
- What percent of taxes did the bottom 50 percent group pay?
- What was the average tax rate for the top 50 percent group?
- What was the average tax rate for the bottom 50 percent group?
- What percent of income (AGI) was in the top 25 percent group?
- What percent of taxes did the top 25 percent income group pay?
- What was the tax rate for the top 25 percent income group?
- What percent of income (AGI) was in the top 10 percent income group?
- What percent of taxes did the top 10 percent income group pay?
- What was the tax rate for the top 10 percent income group?
- What percent of income (AGI) was in the top 5 percent income group?
- What percent of taxes did the top 5 percent income group pay?
- What was the tax rate for the top 5 percent income group?
- What percent of income (AGI) was in the top 1 percent income group?
- What percent of taxes did the top 1 percent income group pay?
- What was the tax rate for the top 1 percent income group?
Student Assignment
Income Taxes—Twenty Questions (cont'd)