Wednesday, December 24, 2008
High-income households have a disproportionate share of comprehensive income and pay a disproportionate share of federal taxes. The half-percent of the population with the highest income received 14.7% of total household income before taxes and paid 22.6% of total federal taxes in 2005 (see Tables 2 and 3). People at the top 0.01% of the income scale received 4.2% of total income and paid 6.5%of total federal taxes in 2005. The half-percent of the population with the highest income paid 31.5% of federal individual income taxes, while the top 0.01% paid 8.0% of individual income taxes in 2005.