The top 5% of wage earners pay 60.6% of federal income taxes, while earning 37% of adjusted gross income.
The top 10% pay 71.2% of income taxes, while earning 48% of adjusted gross income.
The bottom 50% of income earners pay only 2.9% of federal income taxes.
The top 1% of income earners pay 40.4% of all federal income taxes, almost twice their share of adjusted gross income.
By contrast, the bottom 95% of income earners pay 39.4% of all federal income taxes.
That means the TOP 1% of income earners pay MORE federal income taxes than the BOTTOM 95%!
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