How Much Does Top 1% Pay of All Income Taxes?
Update: The chart above is from the Joint Economic Committe (based on 2006 IRS data), showing the percentages of federal personal income tax paid by different groups of taxpayers: The top 1% of taxpayers pay about 40% of all income taxes, the top 10% pay 71%, and the top 50% pay 97% of all taxes. The bottom 50% pays less than 3% of all income taxes paid.
The IRS has also released tax share data by state, and those data show that the top 1% of taxpayers pay as much as 51.5% of all income taxes collected in Wyoming, and the top 1% paid as little as 27.6% of income taxes in Alaska. The top 5 and bottom five states are show below:
Top 5 States
Wyoming: 51.5% (top 1% of Wyoming taxpayers paid 51.5% of federal income taxes collected there)
New York: 46.7%
Bottom 5 States
Alaska: 27.6% (top 1% of Alaska taxpayers paid 27.6% of all income taxes paid)
West Virginia: 27.7%
U.S. Average: 39.9% (top 1% of taxpayers paid 39.9% of all income taxes paid)