Monday, January 6, 2014

IRS Income Statistics For 2011 Are Out

IRS statistics are out.

  • The top 1% of all filers paid approximately 35.1% of all federal income taxes. It takes adjusted gross income (AGI) of at least $388,905 to make the top 1%
  • The top 5% paid 56.5%, with AGI of $167,728
  • The top 10% paid 68.3%, with AGI of $120,136

The bottom 50%? They paid 2.9% of all federal income taxes. 

One should include the obligatory caveat that above statistics refer to federal income taxes and do not include social security taxes. It is questionable whether that adjustment would make any significant difference, though.

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