Tax Day: Who Pays What.

Today is tax day or in my case, tax extension day.  In honor of the event let's take a look at who pays income taxes and how much?  The data is offered as data and not the starting point for somebody's ideological or political agenda.

Tax Year 2009

Percentiles Ranked by AGI:  {Note: AGI is Adjusted Gross Income, Note: AGI is Adjusted Gross Income.  Source: Internal Revenue Service}

Percentage of Federal Personal Income Tax Paid

-Top 1% of all taxpayers had an AGI threshold of $343,927 and paid 36.73% of all Federal personal income taxes.

-Top 5% had an AGI threshold of $154,643 and paid 58.66% of all Federal personal income taxes.

-Top 10% had an AGI threshold of $112,124.  They paid 70.47% of all Federal personal income taxes.

-Top 25% had an AGI threshold of $66,193.  They paid 87.30% of all Federal personal income taxes.

-Top 50% had an AGI threshold of $32,396.  They paid 97.75% of all Federal personal income taxes.

-Bottom 50% had an AGI threshold of  less than $32,396.  They paid 2.25% of all Federal personal income taxes.

Link:  National Taxpayers Union