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The Top 1% Now Pay Almost Half of All Income Taxes – Largest Share Ever in U.S. History

The new IRS data on who shoulders the tax burden in America are astonishing and thoroughly refute the lie that the rich “don’t pay their fair share.” Are you paying attention, Elizabeth Warren, Bernie Sanders, and Joe Biden?

In 2021 the richest 1% (with earnings of about $680,000 a year and above) paid 46% of the income tax. The top 5% in income paid 67% of the tax. The top 3 out of 100 tax filers pay a larger share than the other 97 out of 100.

These two charts from The National Taxpayers Union pretty much tell the whole story. One percent of Americans who make 26% of the income and pay 46% of the tax. The bottom 50% of Americans – all those below the median income of about $48,000 in reported income – pay less than 2.5% of the income tax.

In answer to the question do the rich pay “their fair share?” the answer is a resounding NO. By any honest accounting, they pay far more than their fair share.

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