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Marginal Federal Tax Rates on Labor Income: 1962 to 2028

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  • Congressional Budget Office

Abstract

The marginal federal tax rate on labor income is the percentage of additional income an individual earns that is paid in payroll taxes and federal income taxes. For payroll taxes, CBO estimates that the economywide marginal rate on labor income grew rapidly between the early 1960s and the early 1980s and has remained fairly stable thereafter. The rate on individual income taxes has fluctuated greatly over the past five decades. Marginal tax rates vary widely among families.

Suggested Citation

  • Congressional Budget Office, 2019. "Marginal Federal Tax Rates on Labor Income: 1962 to 2028," Reports 54911, Congressional Budget Office.
    • Handle: RePEc:cbo:report:54911
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    File URL: https://www.cbo.gov/system/files/2019-01/54911-MTRchartbook.pdf
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    Cited by:

    1. Rachel Moore & Brandon Pecoraro, 2020. "Dynamic Scoring: An Assessment of Fiscal Closing Assumptions," Public Finance Review, , vol. 48(3), pages 340-353, May.
    2. Rachel Moore & Brandon Pecoraro, 2021. "A Tale of Two Bases: Progressive Taxation of Capital and Labor Income," Public Finance Review, , vol. 49(3), pages 335-391, May.

    More about this item

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies

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