On this Tax Day, it's worth noting that socialist-leaning Democrats are technically correct: The rich don't, in fact, pay their fair share in taxes. They pay everyone's share.
According to the most recent data compiled by the Tax Foundation, the top one percent of taxpayers made 19.7 percent of the $104 trillion in total gross adjusted income in 2016. Their share of federal individual income taxes, however, was a whopping 37.3 percent.
The bottom 90 percent of earners, by contrast, paid a total of 30.5 percent of the total income tax burden. This means that the top one percent paid more in taxes than the bottom 90 percent combined.
Moreover, the Tax Foundation reported, 'the top one percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent)."
The top five percent of earners paid 58 percent of all federal income taxes, while the top ten percent paid more than two-thirds (69 percent). The top 25 percent paid an astounding 86 percent.
Meanwhile, the bottom 50 percent of earners paid just three percent of the total amount of income taxes even though as a group they made 11 percent of the total gross adjusted income.