According to this website, the national debt is $12,691,221,577,248.59 or about $41,191.12 per person...but not everyone pays the same amount since there are several tax brackets. Here is a simple breakdown of how much each person pays in taxes based upon their income level:
Number of Returns with Positive AGI | Income Taxes Paid ($ millions) | Group's Share of Income Taxes | Income Split Point | Average Tax Rate | |
All Taxpayers | 141,070,971 | $1,115,504 | 100% | 12.68% | |
Top 1% | 1,410,710 | $450,926 | 40.42% | > $410,096 | 22.45% |
Top 2-5% | 5,642,839 | $225,367 | 20.20% | > $160,041 | 20.53% |
Top 6-10% | 7,053,548 | $118,139 | 10.59% | > $113,018 | 12.66% |
Top 11-25% | 21,160,646 | $171,443 | 15.37% | > $66,532 | 9.43% |
Top 26-50% | 35,267,743 | $117,368 | 10.52% | > $32,879 | 7.01% |
Bottom 50% | 70,535,485 | $32,261 | 2.89% | < $32,879 | 2.99% |
Using simple mathematics, we can calculate how much each group must pay to reduce the debt to zero. Of course, this does not include any corporate taxes…but then it doesn’t include any state or local taxes.
Number of Returns with Positive AGI | Group's Share of Income Taxes | Owed | |
Top 1% | 1,410,710 | 40.42% | $3,636,319.13 |
Top 2-5% | 5,642,839 | 20.20% | $454,315.06 |
Top 6-10% | 7,053,548 | 10.59% | $190,542.46 |
Top 11-25% | 21,160,646 | 15.37% | 92,182.48 |
Top 26-50% | 35,267,743 | 10.52% | $37,856.59 |
Bottom 50% | 70,535,486 | 2.89% | $5,199.88 |
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