Are the Rich Paying Their Fair Share of Taxes? How About You?

How does your tax bill compare to millionaires and billionaires? Our handy tool will tell you where you rank as a taxpayer.

picture of a person handing money to an Uncle Sam bank
(Image credit: iStockphoto)

We're hearing a lot lately about creating a more fair and equitable tax system. President Biden and many Congressional Democrats want to tax the rich more heavily and make them pay their "fair share" of taxes. The long list of recent proposals to increase taxes on wealthier Americans include raising the top income tax rate from 37% to 39.6%, eliminating the lower capital gains tax rates for higher-income taxpayers, auditing more rich people, and eliminating various tax breaks for people making at least $400,000 per year. Although none of these changes have been enacted so far, you can be sure that there are a lot of lawmakers in Washington right now who are trying to raise taxes on the rich.

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Income Category2019 AGIPercent of AllIncomePercent of IncomeTaxes Paid
Top 1%Over $546,43420.14%38.77%
Top 5%Over $221,57235.93%59.44%
Top 10%Over $154,58947.30%70.81%
Top 25%Over $87,91768.82%86.65%
Top 50%Over $44,26988.51%96.94%
Bottom 50%Below $44,26911.49%3.06%

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