¦ The richest one percent of Americans pay 23.7 percent of total taxes and receive 21.6 percent of total income.
¦ The poorest one-fifth of Americans pay 2.1 percent of total taxes and receive 3.3 percent of total income.
¦ Each income group will pay a total share of taxes that quite is similar to each group’s total share of income.
¦ Contrary to popular belief, when all taxes are considered, the rich do not pay a disproportionately high share of taxes. Of course, in a truly progressive tax system, they would pay much higher effective tax rates than everyone else.