A good question but no, they don&#x27;t have 80% of the income. Let me flip the question though - should the bottom 40% of earners pay taxes proportionate to their share of income? Because they don&#x27;t pay anything at all (federally). The point is fundamentally flawed.<p>&gt; <i>The top 1% of tax payers pay 38% of all income taxes yet only have a 20% share of total AGI.</i> [0]<p>It would be easy to get into the weeds on this, so I&#x27;ll drop this link and let you decide for yourself. There will always be questions like, is AGI a good measure of income %? (I say yes, because AGI-reducing writeoffs phase out very early).<p>There&#x27;s a lot of &quot;well it depends on how you define..&quot; even within my own argument as you can see (do they pay 50% or 38%?) but my point should be clear enough. I hope :)<p>[0] <a href="http:&#x2F;&#x2F;www.financialsamurai.com&#x2F;how-much-money-do-the-top-income-earners-make-percent&#x2F;" rel="nofollow">http:&#x2F;&#x2F;www.financialsamurai.com&#x2F;how-much-money-do-the-top-in...</a>