Home
/
RELIGION & LIBERTY ONLINE
/
7 Figures: Tax Day Edition
7 Figures: Tax Day Edition
Feb 11, 2026 7:51 AM

[Note: ‘7 Figures’ is a new, occasional series highlighting data and information from a variety of surveys and reports.]

1. The average federal tax rate for all households (tax liabilities divided by e, including government transfer payments) before taxes is 18.1 percent.

2. Households in the top quintile (including the top percentile) paid 68.8 percent of all federal taxes, households in the middle quintile paid 9.1 percent, and those in the bottom quintile paid 0.4 percent of federal taxes. (Quintiles — fifths — contain equal numbers of people.)

3. Social insurance taxes (e.g., Social Security, Medicare) account for the largest share of taxes paid by households in all but the top quintile.

4. The U.S. tax code is approximately 2,600 pages long (about 1.5 times longer than Tolstoy’s War and Peace and 2.5 times longer than Ayn Rand’s Atlas Shrugged).

5. At midnight, the U.S. Treasury gets an extra $760 million. Taxpayers have three years to claim refunds, so the $760 million that is owed to 918,600 people will, by statute, go to the governments coffers tomorrow.

6. If you’re owed a refund, you won’t get in trouble if you miss the April 15 filing deadline. But if you’re wrong and you actually owe money, you’ll incur a maximum penalty of 5% for each month after the deadline. If you’re more than 60 days late, you’ll be fined $135, or 100% of the unpaid tax — whichever amount is smaller.

7. Examining 30 years of road crash data from the National Highway Traffic Safety Administration, researchers found that fatal car crashes increase 6 percent on April 15.

Other posts in this series:

Wages and Employment in America

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Religion & Liberty: Out of the frying pan into the fire
Public Domain. As summer in Michigan begins to wind down, Religion & Liberty Summer 2017 takes a look at several important issues. We explore religious liberty in Eastern Europe, “pink” issues, Martin Luther, cooking and recidivism, the “Jon Stewart of Egypt” and more. For the cover feature, I decided to revisit a subject we previously covered. We tracked down several graduates of Edwin’s Leadership and Restaurant Institute (which was profiled in the Fall 2015 issue of R&L) and talked to...
Thinking about the ethics and economics of ‘price gouging’
A reporter posted a picture on Twitter yesterday that showed a Best Buy in Houston charging $42 for a case of Dasani water. The picture also showed a case of Smartwater for $29, with a sign noting there was a “limited supply.” Not surprisingly, the outrage on social media prodded Best Buy to quickly respond by claiming it was a mistake. “As pany we are focused on helping, not hurting affected people,” pany said in a statement. “We’re sorry, and...
How’s socialism doing in Venezuela?
Because of high inflation and unemployment, Venezuela has themost miserable economy in the world. The inflation rate over the past 12 months was 460 percentand the unemployment rate is so high the government stopped reporting it last year. How did a country that once had a functioning democracy, a rapidly developing economy, and a growing middle class sink so low? In a word: socialism. As Debbie D’Souza, a native Venezuelan and political activist, explains, “Socialism is a drug. And like...
Book review: ‘Reckoning with Race: America’s Failure’ by Gene Dattel
Reckoning with Race: America’s Failure. Gene Dattel. Encounter Books, 2017. 312 pages. Long before they exploded into violence at Charlottesville, race relations seemed so intractable that Alexis de Tocqueville wrote “the white and black races will [never] … be upon an equal footing.” Nearly two centuries later, this seems to be another doleful example of Tocqueville’s prescience. In Reckoning with Race: America’s Failure, which is to be released later this month, Gene Dattel chooses to concentrate on what he dubs...
Americans spend more on taxes than food. Here’s why that’s good news.
Americans spent more on taxes than food and clothes in 2016, is the main point conservative media outlets are taking away from the Bureau of Labor Statistics recently released report on Consumer Expenditures for 2016. Because we are entering a season of debate on tax reform, this is an obvious angle to take on such data. But focusing only on the taxes can obscure the good news: the average American household spends a relatively small percentage of its e on...
Let’s thank American city dwellers for their workaday commute
It’s time we “salute” the large group of American workers whose mute to their jobs in the city takes as long as 60 minutes or more. For those living in New York City, San Francisco, or Washington D.C., mute to and from work is often burdensome. The many city dwellers who help to drive America’s economic output deserve thanks. James Bruce, associate professor of philosophy at John Brown University and Acton University faculty memberrecently wrote a piece in the Wall...
Reason, faith, and the struggle for Western civilization
“President Trump’s outspoken defense of Western civilization in his July 2017 Warsaw speech was a pointed reminder that one troubling characteristic of our time is the ongoing assault on the very idea of the West,” says Samuel Gregg in this week’s Acton Commentary. “This is most vividly manifested in the relentless use of physical violence by jihadists determined to terrorize us first into acquiescence and, eventually, submission.” Nor, however, is there a shortage of efforts to dismantle Western culture from...
Unemployment as economic-spiritual indicator — August 2017 report
Series Note: Jobs are one of the most important aspects of a morally functioning economy. They help us serve the needs of our neighbors and lead to human flourishing both for the individual and munities. Conversely, not having a job can adversely affect spiritual and psychological well-being of individuals and families. Because unemployment is a spiritual problem, Christians in America need to understand and be aware of the monthly data on employment. Each month highlight the latest numbers we need...
How monopolies use market power to increase prices
Note: This is post #47 in a weekly video series on basic microeconomics. AIDS has killed more than 36 million people worldwide, notes economist Alex Tabarrok. There are drugs available to treat AIDS, but the price in the U.S. of one pill is 25 times higher than its cost. Why is this life-saving drug so expensive? In this video by Marginal Revolution University, Tabarrok shows how patent rights have created a monopoly in the U.S. market for AIDS medication, causing...
Radio Free Acton: Victor Claar on price gouging and Hurricane Harvey; Upstream on progressive rock; and Mailbag with Rev. Robert Sirico
This week’s edition of Radio Free Acton features a chat with economist Victor Claar about the outrage surrounding price gouging and Hurricane Harvey. Is it immoral to ratchet up prices in the face of disasters? On Upstream, host Bruce Edward Walker talks about the politics and culture of progressive rock with guest Sam Karnick. And on Acton Mailbag, Rev. Robert A. Sirico, co-founder and president of the Acton Institute, fields questions from summer interns. Check out these additional resources on...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved