Share of Federal Income Taxes Paid: Top 1% vs. Bottom 95% of US Taxpayers, 1980-2016

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From MJP

 Chart of the Day (above) displays new IRS data that were released recently for tax year 2016. Reflecting the steep progressivity of federal income taxes, the share (and dollar amount) of total federal income taxes paid by the top 1% of American taxpayers has been almost equal to the share (and dollar amount) of taxes paid by the entire bottom 95% of taxpayers. For 2016, the 1.4 million Americans in the top 1% of taxpayers earned 19.7% of Adjusted Gross Income (AGI) and paid $538 billion in federal income taxes or 37.3% of all income taxes collected. The 134 million tax filers in the bottom 95% of Americans by income earned 64.8% of AGI and paid $602 billion in federal income taxes in 2016, representing 41.8% of taxes collected.

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