What is the average annual federal tax burden on U.S. households in the top 1% income group?
In 2015, (latest data), U.S. households in the top 1% income group paid an average of $617,600 in federal taxes on an average income of $1,855,900. This amounts to an average effective federal tax rate of 33%, which is 2.5 times higher than the average rate paid by middle-income households. Unlike the incomplete and misleading figures often published by the media, this data accounts for all forms of income and nearly all federal taxes, including hidden taxes. However, it doesn't include functional hidden taxes that impose the costs of certain government social welfare policies on the private sector.