Federal Taxes By Income Level

With tax filing day around the corner, it's time for a look at who pays taxes. Last year The Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution,  released a report estimating what percentage of all federal taxes (income, payroll, corporate, estate) are paid by people in all five income quintiles. The study also breaks down the top income quintile to show how much those in the top 5 percent, 1 percent and 0.1 percent of income distribution.