> The Pew Center’s analysis of IRS data showed that in 2014, people with an adjusted gross income, or AGI, above $250,000 paid 51.6% of all individual income taxes, even though they accounted for only 2.7% of all returns filed. These “wealthy” individuals paid an average tax rate (total taxes paid divided by cumulative AGI) of 25.7%.
> By contrast, while people with adjusted gross incomes below $50,000 filed 62% of all individual returns in 2014, they paid only 5.7% of total taxes collected at an average tax rate of 4.3% per person.
- If those with AGI above $250k paid 51.6% of all individual income taxes, what did they each pay per year in individual income tax?
- What did those with AGI above $2,500k pay? What percentage of annual revenue is that compared with someone on a decent professional wage, or on minimum wage?
