The top 1% of income earners in the U.S.(those with the highest taxable incomes)pay
A) about the same percentage of their incomes in taxes as the average U.S.taxpayer.
B) a much lower percentage of their incomes in taxes than the average U.S.taxpayer.
C) a much higher percentage of their incomes in taxes than the average U.S.taxpayer.
D) about 15 percent of their incomes in income taxes
E) a and d

Question

Quizplus · Accepted Answer

The top 1% of income earners in the U.S. pay a much higher percentage of their incomes in taxes than the average U.S. taxpayer. According to a report by the Congressional Budget Office, the top 1% of households paid an average federal tax rate of 33.3% in 2017, while the average federal tax rate for all households was 19.3%. Additionally, the top 1% of income earners pay a larger share of federal income taxes than any other income group.

The Top 1% of Income Earners in the U