Top 1% dodge $163 billion in annual taxes, Treasury estimates

Posted on AllSides September 9th, 2021
From The Center
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The top 1% of Americans may be dodging as much as $163 billion in annual taxes, according to a report from the U.S. Department of the Treasury. 

This estimate widens the so-called tax gap — the shortfall between how much is owed and collected — to $600 billion every year, the report outlines.

The Treasury doesn’t define income levels on its analysis of the top 1%, but says the lost revenue is equal to all the levies paid by the lowest-earning 90% of taxpayers. 

“I think it’s a timely report because it’s...

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