Who Pays What?
With all the chatter about who is paying what in federal income taxes, wouldn’t it be nice to know what the IRS statistics say they collect? Here are the facts. In a continuing effort to provide information as we listen to the budget and debt debates out of Washington D.C., outlined here are some IRS statistics on who pays individual income taxes. The information provided here is the most current available information. Income % of Income Share of Income Tax Paid Average Tax Rate Top 1% 18.9% 37.4% 23.4% Top 5% 33.8% 59.1% 20.6% Top 10% 45.2% 70.6% 18.5% Top