Who Pays the Taxes in the U.S.A.? The Wealthy…

Americans who earned in the top 1 per cent paid more individual income tax than the bottom 90 per cent combined in 2016, according to new figures released by the Internal Revenue Service.

That year, the United States government collected a total of $1.44trillion from 140.9 million income taxpayers, according to the IRS.

These filers reported a total of $10.2trillion in adjusted gross income.

The statistics show that the top 50 per cent of all taxpayers paid 97 per cent of total individual income taxes.

That means that the bottom 50 per cent paid 3 per cent.

The bottom 50 per cent paid the same amount of income tax as the top 0.001 per cent, according to the IRS figures compiled by Bloomberg.

The figures show that 1,400 taxpayers paid about the same amount of taxes as 70 million taxpayers who earn incomes that are in the bottom 50 per cent.

In 2001, the bottom 50 per cent paid almost 5 per cent, while the top .001 per cent paid 2.3 per cent of income taxes.

The figures indicate that the American tax code is relatively progressive – whereby those who earn more pay a higher share of income tax.

Via: DM

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