El Paso Investors Club ©

By Brad Beckett on June 11, 2026
The Tax Foundation says new Internal Revenue Service data for tax year 2023 shows the US federal income tax system continues to be progressive, as high-income taxpayers pay the highest average income tax rates. Click here to read more.

Some key points:

• In 2023, taxpayers filed 153.1 million tax returns
• They reported earning nearly $15.2 trillion in adjusted gross income (AGI), and paid $2.1 trillion in individual income taxes.
• The average income tax rate in 2023 was 14.1%.
• The top 1% of taxpayers paid a 26.3% average rate, seven times higher than the 3.7 percent average rate paid by the bottom half of taxpayers.
• The top 50% of all taxpayers paid nearly 97% of all federal individual income taxes, while the bottom 50% paid the remaining 3%.

Click here to read the full report at the Tax Foundation.