You vs the One Percent--How Much Tax People Pay by Income (IRS Data)

You vs the One Percent--How Much Tax People Pay by Income (IRS Data)

Many believe we should raise taxes on the ultra-wealthy. One argument is simply that they can afford it. A more nuanced argument is that they are not paying their fair share, whatever that means. In this video we look at the most recent IRS data to see just how much of the federal income tax the one percent pay, and how much everybody else pays.

IRS Data: https://www.irs.gov/statistics/soi-tax-stats-individual-income-tax-rates-and-tax-shares

Summary of IRS Data: https://taxfoundation.org/publications/latest-federal-income-tax-data/

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While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.

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