The 2022 data in the two tables below come from the IRS - Publication 1304 Basic Table Part 1 . The IRS has not published any more current data beyond 2022. The oldest data available in Publication 1304 is for the 1996 tax year. Years from 1954 to 1999 can be found at this IRS site.
The data in a very real way speaks for itself.
The following facts come from the tax summaries for 1960, 1996, and 2022(Adjusted Gross Income = AGI):
- In 1960, the bottom 52.1% earned 22.3% of the total national AGI, while the top 1.5% earned 10.6%
- In 2022, the bottom 52.0% earned 12.8% of the total national AGI, while the top 1.5% earned 25.9%
In 2022, the bottom 52.04% had an average income of $28,587, while the top 1.53% had an average income of $1,552,150.
This is what uncontrolled capitalism looks like. No wonder so many Americans are angry
Tax Impact
The driving force behind this concentration of income is the tax policy that allows the very rich to pay very little in taxes. Trump is a classic example of the this tax avoidance policy.
Below is a sanp shot of the effect of the 2022 results of the current tax policy that was reconfirmed this summer.
In the second chart below, from 2022, you can see the following numbers.
- the person earning $28,587 is paying 9.96% in income tax
- the person earning $288,616 is paying 18.81% in income tax
- the person earning $6,846,585 is paying 22.29% in iincome tax
Who considers this a fair tax policy???
Note: This doesn't reflect the impact of payroll taxes on lower income taxpayers.
The Breakdown of Adjusted Gross Income for 2022
Tax Year 2022 | Tax Filings | % of Filings | AGI Income | % of Total AGI | Avg. Individual AGI |
| (in thousands) | (in millions) | ||||
| National Total | 161,337 | $14,883,957 | |||
| AGI Ranges | |||||
| No AGI | 3,254 | 2.02% | $(164,160) | -1.10% | |
| 0 - 5,000 | 8,196 | 5.08% | $19,539 | 0.13% | $2,384 |
| 5,000-10,000 | 8,748 | 5.42% | $66,071 | 0.44% | $7,553 |
| 10,000-50,000 | 63,768 | 39.52% | $1,822,956 | 12.25% | $28,587 |
| 50,000 - 75,000 | 23,806 | 14.76% | $1,466,486 | 9.85% | $61,602 |
| 75,000 - 100,000 | 15,181 | 9.41% | $1,315,620 | 8.84% | $86,662 |
| 100,000 - 200,000 | 25,997 | 16.11% | $3,567,048 | 23.97% | $137,210 |
| 200,000 - 500,000 | 10,017 | 6.21% | $2,891,065 | 19.42% | $288,616 |
| 500,000 - 1,000,000 | 1,675 | 1.04% | $1,124,299 | 7.55% | $671,223 |
| 1,000,000 - 1,500,000 | 361 | 0.22% | $435,178 | 2.92% | $1,205,479 |
| 1,500,000 - 2,000,000 | 148 | 0.09% | $254,477 | 1.71% | $1,719,439 |
| 2,000,000 - 5,000,000 | 208 | 0.13% | $621,044 | 4.17% | $2,985,788 |
| 5,000,000 - 10,000,000 | 53 | 0.03% | $362,816 | 2.44% | $6,845,585 |
| 10,000,000 - 5,000,000,000 | 35 | 0.02% | $1,051,519 | 7.06% | $30,043,400 |
| Total with AGI | 158,193 | $14,998,118 |
Breakdown of Income Taxes Paid by AGI Ranges in 2022
Tax Year 2022 | Taxable Filings | Taxable Income | Taxes Paid | Avg. Tax Rate | Marginal Tax Rate |
| (in thousands) | (in millions) | ||||
| National Total | 110,626 | $11,404,335 | $2,098,923 | ||
| AGI Ranges | *** | *** | |||
| No AGI | 0 | $0 | $129 | ||
| 0 - 5,000 | 102 | $150 | $19 | 12.67% | 10% |
| 5,000-10,000 | 119 | $405 | $41 | 10.12% | 10% |
| 10,000-50,000 | 36,466 | $639,466 | $63,735 | 9.96% | 12% |
| 50,000 - 75,000 | 21,378 | $926,334 | $100,104 | 10.81% | 22% |
| 75,000 - 100,000 | 14,549 | $946,048 | $113,079 | 11.95% | 22% |
| 100,000 - 200,000 | 25,547 | $2,858,175 | $397,720 | 13.92% | 24% |
| 200,000 - 500,000 | 9,990 | $2,541,372 | $254,285 | 18.81% | 35% |
| 500,000 - 1,000,000 | 1,671 | $1,028,824 | $110,819 | 24.72% | 37% |
| 1,000,000 - 1,500,000 | 360 | $398,507 | $435,178 | 27.81% | 37% |
| 1,500,000 - 2,000,000 | 147 | $232,336 | $254,477 | 28.96% | 37% |
| 2,000,000 - 5,000,000 | 208 | $565,832 | $621,044 | 29.34% | 37% |
| 5,000,000 - 10,000,000 | 53 | $329,350 | $362,816 | 22.29% | 37% |
| 10,000,000 - 5,000,000,000 | 36 | $937,404 | $251,097 | 26.79% | 37% |
| Total with AGI | 158,193 | $14,998,118 |
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