The Top 20% of Households Pay 88% of Federal Income Taxes | Americans for Tax Reform

The Top 20% of Households Pay 88% of Federal Income Taxes | Americans for Tax Reform
"Congresswoman Alexandria Ocasio-Cortez (D-NY) recently proposed a 70 percent top federal income tax rate.
This would nearly double the current top tax bracket, which is currently at 37 percent.
Ocasio-Cortez fails to mention that the tax code is already steeply progressive.
According to the Congressional Budget Office:
-The top one percent of households pay 39.4 percent of federal income taxes and 26.2 percent of total federal taxes.
- The top 20 percent of households pay 88.1 percent of federal income taxes and 69.5 percent of total federal taxes.
- The top one percent of households pay an average income tax rate of 24 percent while the middle quintile pays an average income tax rate of 3 percent....
...The data is shown below: