Political Parties

What Share of Taxes does the Wealthy Pay?

Michael Medved posted these stats about how much of the share of taxes the wealthy pay. I thought I would put them into a spiffy little graph:

In case you don’t lust after graphs the same way I do, let me explain:

Those Americans who are in the top 1% of wage-earners in America earn 20% of the total income earned in America (adjusted gross). Meanwhile, they pay 38% of the total tax burden. If you look at the top 5%, they earn 35% of the total income earned in America, and they pay 59% of the total tax burden. That’s quite a bit.