For the rest of filers making below $100,000 annually, the lost revenue is a mere drop in the bucket for a country currently $38.8 trillion in debt, and counting. Although IRS income breakdowns are not separately reported, we can estimate that households earning less than $100,000 a year likely pay at most $1 trillion to $1.4 trillion in federal income tax. (This number was derived on the basis of individual income taxes that raise on the order of $2.6 trillion a year. It’s important to note this group pays a large share of payroll taxes that go to funding Social Security and Medicare).
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