The data demonstrates that the U.S. individual income tax
continues to be very progressive, borne primarily by the
highest income earners.
In 2017, 143.3 million taxpayers reported earning $10.9 trillion
in adjusted gross income and paid $1.6 trillion in individual income taxes.
The share of reported income earned by the top 1 percent of taxpayers
rose to 21 percent, from 19.7 percent in 2016. Their share of federal
individual income taxes rose to 38.5 percent, from to 37.3 percent in 2016.
In 2017, the top 50 percent of all taxpayers paid 97 percent of all individual
income taxes, while the bottom 50 percent paid the remaining 3 percent.
The top 1 percent paid a greater share of individual income taxes (38.5 percent)
than the bottom 90 percent combined (29.9 percent).
The top 1 percent of taxpayers paid a 26.8 percent average individual
income tax rate, which is more than six times higher than taxpayers
in the bottom 50 percent (4.0 percent).
The data demonstrates that the U.S. individual income tax
continues to be very progressive, borne primarily by the
highest income earners.
in adjusted gross income and paid $1.6 trillion in individual income taxes.
rose to 21 percent, from 19.7 percent in 2016. Their share of federal
individual income taxes rose to 38.5 percent, from to 37.3 percent in 2016.
income taxes, while the bottom 50 percent paid the remaining 3 percent.
than the bottom 90 percent combined (29.9 percent).
income tax rate, which is more than six times higher than taxpayers
in the bottom 50 percent (4.0 percent).
https://taxfoundation.org/summary-of-the-latest-federal-income-tax-data-2020-update/
https://usgovernmentrevenue.com/breakdown
The grand total is wrong.
I rounded off the hundred thousands. Reportedly $1.6 Trillion. What's wrong with it?