If you enjoy the content at iBankCoin, please follow us on TwitterThink it takes a million bucks to make it into the Top 1% of American taxpayers?
Think again. In 2009, it took just $343,927 to join that elite group, according to newly released statistics from the Internal Revenue Service.
Occupy Wall Street protesters have been railing against the Top 1%, trying to raise anger and awareness of the growing economic gap between the rich and everybody else in America.
But just who are these fortunate folks at the top of the income ladder?
Well, there were just under 1.4 million households that qualified for entry. They earned nearly 17% of the nation’s income and paid roughly 37% of its income tax.
Collectively, their adjusted gross income was $1.3 trillion. And while $343,927 was the minimum AGI to be included, on average, Top 1-percenters made $960,000.
But the income threshold for this exclusive group changes every year, largely with the performance of the stock market, experts said.
Joined Nov 11, 2007
31,929 Blog Posts
The TOP only paid 37%? Social Justice demands more!!!
The top 1% in the world, is mostly the US. Really, the top 1% in the world probably includes several of the occupy crowd. The occupy groups neglects that they can eat like a medieval king at a fast food joint, have the food ready at the snap of their fingers, and it will only cost them just under an hour’s worth of minimum wage. They can get on a bike and travel for much cheaper than the cost of maintenance of a horse, and society continues to evolve upwards, even as population expands. That’s because of businesses. Autombile was a luxury item that is just about available to all, air conditioning/heat same thing. TV, of course. Internet, hasn’t even existed for that long relatively speaking. We are all blessed but most cannot see it because they compare there lives to the Jones’s, and when they go broke trying to keep up by going into debt, they blame the Jones’s rather than their own jonesing for MORE. It is the greed of the individuals instant gratification that is every bit as problematic as the greed of the banks. and No, I don’t think the system is “fine” because bailouts and corruption is not capitalism. socializing the losses is not capitalism.
Naseem Taleb (sp?) had a great point. If The people are subject to bailing out the banks, they should not have the ability to pay bonuses any greater than the highest paid civil servant. If they want bonuses, they don’t get bailouts. Except most people associate capitalism with bailouts which is LOL hilarious.
Exactly. Wealth is absolute; it isn’t totally relative.
Let’s see these kids live in the top 1% of Uganda. Fucking pussies wouldn’t last a day.
Top 1%– http://en.wikipedia.org/wiki/Philosophy_of_Friedrich_Nietzsche#.C3.9Cbermensch
LOL — this sounds like something out of a blogpost–
What is ape to man? A laughingstock or painful embarrassment. And man shall be that to Übermensch: a laughingstock or painful embarrassment. You have made your way from worm to man, and much in you is still worm. Once you were apes, and even now, too, man is more ape than any ape…
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That should read “a Fly blogpost…”
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Fly = Ubermensch, top 1% for sure.