Charts of the Week
The U.S. Government’s Sources of Income
April 12, 2024
How have the different forms of taxes funded the U.S. government throughout the years?
How have the different forms of taxes funded the U.S. government throughout the years?
Those with an AGI under $100,000 account for roughly 12% of all income taxes collected in the U.S., while those with an AGI above $1 million account for roughly 40%.
The average taxpayer in the U.S. paid 14.20% on their adjusted gross income between 2001 and 2021.
Over one-third of U.S. citizens have no income tax liability.
A look at each state's income tax as well as sales tax rates
A comparison of taxes across the globe
Some interesting charts from our recent posts
Today's topics include Timiraos throws some doubt on rate cuts, yields zoom higher, inflation puts Fed in a tough spot, the unfortunate fate of Tuesday's big SOFR trade, El-Erian argues for acceptance of a 'new' global economic paradigm, all quiet on the QT front...so far, more talk & no action on fiscal spending, changes coming for some prime money market funds, active vs. passive, and a fun AI thought experiment
Year-over-year inflation came in slightly above expectations again in March. Supercore inflation, a measure closely watched by the Fed, rose for a fifth straight month. Time is slowly running out for data that supports a Fed rate cut this year. Traders now put the odds of a June or July cut at less than 50%.
Commodities, equities, and crypto have been rallying based on economic strength in the United States and inflation remaining sticky at 3%. Higher commodity prices indicate belief in the persistence of inflation above the Fed's target.
Today's topics include record trade yesterday before CPI, measuring inflation if homeownership costs were included, Fed & ECB divergence could be cause for concern, rates & oil, government debt, private credit returns, BoJ yen intervention, and are ETF option income strategies quelling market volatility?