Total Taxes

agi In 2015, the top 1% of individual filers, those with AGIs (adjusted gross incomes) of at least $480,930, earned 20.65% of total AGI and paid 39.04% of all federal income taxes. The top 5% had AGIs of $195,778 and paid 59.58% of total income taxes and the top 10%, with AGIs of more than $138,030, paid 70.59% of taxes and earned 47.36% of all AGI. These numbers exclude payroll taxes.

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  1. Elliott says:

    If the top 1% of filers with income over $480,930 paid 39.04% of all income taxes, the top 5% with incomes over $195,778 paid 59.58% and the top 10% with income over $138,030 paid 70.59%….that’s 169.21%????

    • Elliot says:

      The 5% number includes the 1% number and the 10% includes the 5% and the 1% numbers. So the 1%ers paid roughly 40% then the next group paid about 20% and the next group paid 10% and that adds to 70%. I hope this makes sense.

  2. Now this is interesting, so please excuse my ignorance……….
    Just what is AGI as compared to payroll taxes, I suppose they are different sources of income? What makes the difference?
    And what are the numbers for only payroll taxes? and when both are combined?
    Why do we separate them?

    • Elliot says:

      Payroll taxes are paid by everyone who earns money. Social Security tax on the first roughly $125,000 and Medicare on all earnings. Less controversy here except the SS cutoff level.

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