1% of US earners contribute 45% of total personal income taxes.

An analysis by SmartAsset reveals that the top 1% of earners in the U.S. contribute about 45% of total personal income taxes. They pay over 60% of state taxes in Wyoming, while Alaska's top earners contribute the least at 29.8%. Connecticut has the highest effective tax rate at 27.69%, and Arkansas the lowest at 21.41%. Nationwide, this group pays an average effective rate of 25.95%, totaling $993.7 billion in taxes annually.

September 30, 2024
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