An Iowa farmer with 1,000 acres of corn and soybeans might own $12 million worth of land, plus another couple of million dollars worth of tractors, combines and structures on the property. For the 2022 tax year, the top 1% of income earners paid 40% of all federal personal income tax collected. The top 5% paid 61% and the top 10% paid 72% of the total federal individual income tax levy. IRS data for income earned and federal income tax paid broken down by income category is available here for years 2021, 2020, 2019. Should millionaires foot 90% of the personal income tax burden so that everyone else can enjoy a free ride?