Taxes, Income, and Wealth

Adjusted Gross Income and Federal Income Taxes in 2010

  • The top 1% of income earners in America earned 16.9% of all adjusted gross income and paid 34.3% of all federal income taxes for Tax Year 2009.
  • The top 5% of income earners, including the top 1%, earned 31.7% of all AGI and paid 57.5% of all federal income taxes.
  • The top 10% of income earners, including all of those above, earned 43.2% of all AGI and paid 70.3% of all federal income taxes.

Total Federal Taxes in 2010

  • The top 1% of income earners paid 25.6% of all Federal Taxes paid;
  • The top 5% paid 43.2%;
  • The top 10% paid 54.6%.

Total Taxes, Federal, State, and Local in 2010

  • The top 1% paid 21.5% of all taxes, federal, state, and local;
  • The top 5% paid 36.1%;
  • The top 10% paid 47.3%.

Total Taxes as a Share of Income in 2010

  • The top 1% paid 30% of their income in total taxes.
  • The next 4% paid 31.3%.
  • The next 5% paid 31.1%.
  • The next 10% paid 30%.
  • Those in the 4th quintile paid 28.5%.
  • In the 3rd quintile, 25.1%.
  • In the 2nd quintile, 20.7%.
  • In the bottom quintile, 16.2%.

State and Local Taxes as a Share of Income in 2010

  • The bottom quintile paid the highest share of their income in state and local taxes, at 12.3%.
  • The next quintile was next at 11.6%.
  • The next quintile was next at 11.2%, the next at 11.1%, the next at 11.0%.
  • The next 5% paid 10.6%, the next 4% paid 9.9%.
  • The top 1% paid the lowest, at 7.9%.

US Household Wealth and Federal Income Taxes in 2006

  • The top 1% held 33% of the total US wealth and paid 40% of the income tax.
  • The top 10% held 70% and paid 71% of the taxes.
  • The bottom 90% held 30% and paid 29%.

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