5/1/12

There have already been plenty of posts discussing income taxes and US general tax structure on WSO, but here is a chart I wanted to share for anyone interested.

Source: WSJ

Comments (8)

5/1/12
5/1/12

Interesting video, thanks for the share, JS.

Sometimes lies are more dependable than the truth.

5/1/12

The 1% is $1.4M+?

BUT OWS SAID IT WAS ANYONE MAKING $250K+!

MM IB -> Corporate Development

In reply to SECfinance
5/1/12
SECfinance:

The 1% is $1.4M+?

BUT OWS SAID IT WAS ANYONE MAKING $250K+!

I think the difference here is it says "Average income" -- anyone over $250K might be in the top 1%, but the average income of all of those in that bracket is obviously going to be higher than that.

Sometimes lies are more dependable than the truth.

In reply to Ultima-RDK
5/1/12
Ultima-RDK:
SECfinance:

The 1% is $1.4M+?

BUT OWS SAID IT WAS ANYONE MAKING $250K+!

I think the difference here is it says "Average income" -- anyone over $250K might be in the top 1%, but the average income of all of those in that bracket is obviously going to be higher than that.

Unlikely given that the average for the "Next 4%" is $254k.

In reply to TechBanking
5/1/12
TechBanking:
Ultima-RDK:
SECfinance:

The 1% is $1.4M+?

BUT OWS SAID IT WAS ANYONE MAKING $250K+!

I think the difference here is it says "Average income" -- anyone over $250K might be in the top 1%, but the average income of all of those in that bracket is obviously going to be higher than that.

Unlikely given that the average for the "Next 4%" is $254k.

TB, what are you claiming is unlikely here, that the top 1% of earners have an average income of $1.4M? The number definitely threw me off when I first saw it, too.

I don't know whether the graphic WSJ made is pulling household incomes or individual incomes...But, let's say there are 114,235,996 households in the U.S. (Census Bureau).

According to the IRS, there were 127,997 tax returns filed in 2009 with AGI > $1.5 mill.

Sometimes lies are more dependable than the truth.

5/1/12

Everyone knows the rich pay the taxes, people just care about the % of their income. They want to punish them that is all. People don't care about the reality of the situation, just taking something from someone else.

In reply to Ultima-RDK
5/1/12

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