[ARCADIA]

The percentage of federal income taxes paid by those who make more than $200,000 a year has actually risen from 41% to 47% in recent years.

What percentage of their income goes towards paying various federal excise taxes, and how does that compare with other Americans? The income tax is only 1 of the mechanism by which the Federal government empties your wallet, there are thousands of others and most of those are regressive.

[ancient_geezer]

What percentage of their income goes towards paying various federal excise taxes, and how does that compare with other Americans?

According to BEA data, federal excise taxes and tariffs make up less than 5% of total revenue receipts.

According to CBO, the top quintile pays more than 33% of excises collected, the bottom quintile pays less than 12% of excises collected.

[VRWCmember]

The income tax is only 1 of the mechanism by which the Federal government empties your wallet, there are thousands of others and most of those are regressive.

Here are a few:
1. FICA taxes a big chunk of their first $90K in wage income.
2. Property taxes hit them harder than lower income folks as these high income people tend to own larger and much higher-valued properties.
3. Sales taxes, while to some extent are regressive, also hit higher income people harder as they tend to spend a higher amount on taxable goods than those with lower income. (Besides consumption taxes are SUPPOSED to be a factor of consumption and not a factor of income or wealth.)
4. Higher income earners also tend to have more income from dividends and investments, which also means the soak-the-rich crowd also gets to enjoy the fact that they are double-taxed on these items.

[DB]

All I can say is more than 41% of all my income goes directly to income taxes. And then there's all the other taxes after that...