You’re About to Pay the Most Income Taxes Ever

The U.S. government is expected to collect $2.6 trillion in individual income taxes in 2022, more than in any previous year, according to a report by the Congressional Budget Office.

SO WHAT

Thanks, Biden!

THE NUMBERS

The estimated individual federal income taxes paid by Americans would be a 28% increase from last year, the CBO reported to Congress Thursday.

In addition to being the most U.S. income tax ever collected, the $2.6 trillion would amount to the biggest share of gross domestic product (10.6%) since the Constitution was amended in 1913 to allow federal taxation of income.

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