Who Pays the Most Income Tax?

The federal government generated $4.47 trillion in revenue in the fiscal year 2023, nearly half of which comes from taxing individuals on their incomes. Individual income taxes in FY 2023 totaled $2.18 trillion, or $6,499 per person.How much income tax do the highest earners pay?The majority of the federal income tax revenue comes from the highest income earners in the nation. In 2021, the top 5% — individuals earning $252,840 and above — collectively paid over $1.4 trillion in income taxes, or about 66% of the national total. If you include the top 10% — everyone earning at least $169,800 — that amount rises to $1.7 trillion, or 76% of the total.The top 50% contributed 97.7% of federal income tax revenue.Clearly, people are taxed on more than just their income. They also contribute to Social Security and Medicare through payroll taxes. Additionally, they are subject to state, local, and sales taxes.Source: USA Facts