The Millennial Generation Holds the Future of the Outdoor Economy
Summary report from the UNEP FI / IISD expert workshop on finance and conflict
During working years, the low wage worker is eligible for the Earned Income Tax Credit (FICA refunds) and federal child credits and may pay little or no FICA tax or Income tax. By Congressional Budget Office (CBO) calculations the lowest income quintile (0–20%) and second quintile (21–40%) of households in the . pay an average income tax of -% and -% and Social Security taxes of % and % respectively. By CBO calculations the household incomes in the first quintile and second quintile have an average Total Federal Tax rate of % and % respectively.  Higher income retirees will have to pay income taxes on 85% of their Social Security benefits and 100% on all other retirement benefits they may have.