A Closer Look

High-income in US – Those above $250,000 paid 51.6% of all individual income taxes in 2014

In 2014, people with adjusted gross income, or AGI, above $250,000 paid just over half (51.6%) of all individual income taxes, though they accounted for only 2.7% of all returns filed, according to our analysis of preliminary IRS data. Their average tax rate (total taxes paid divided by cumulative AGI) was 25.7%. By contrast, people with incomes of less than $50,000 accounted for 62.3% of all individual returns filed, but they paid just 5.7% of total taxes. Their average tax rate was 4.3%.

Chosen excerpts by Job Market Monitor. Read the whole story at High-income Americans pay most income taxes, but enough to be ‘fair’? | Pew Research Center

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