Do you have the data for that? I was wondering about tax paid (as dollars not effective rate- I know effective tends to me lower for HNW individuals due to accountants and other financial professionals they can afford).
If we're bringing receipts, how about you start? Do you have the data for this initial statement of yours?
https://taxfoundation.org/data/all/federal/latest-federal-in...
- The top 1% of income earners pay 40.4% of the total U.S. Federal Income Tax receipts
- Top 5% pays 61.0%
- Top 10% pays 72.0%
- Top 25% pays 87.2%
- Top 50% pays 97.0%
If you look at all taxes, the share paid is remarkably close to the share earned. According to https://itep.org/who-pays-taxes-in-america-in-2024/, in 2024, the top 1% earned 20.1% of income while paying 23.9% of taxes. The bottom 20% paid 1.5% of taxes while earning 2.6% of income.
Within that group, the share is not evenly distributed, though.
Most who are in the 1% club are people who are earning wage income, like doctors, and are getting absolutely reamed with taxes. The vast majority of the 1% are not rich enough to be doing elaborate schemes to avoid taxes.
Billionaires, who are in the top 0.0002%, are an entirely whole different story. There are many figures that show they generally do not pay their fair share in taxes.
Top 50%: $53k/year
Top 25%: $93k/year
Top 10%: $155k/year
Top 5%: $210k/year
Top 1%: $450k/year