We hear about the top 1% all the time. Who are the 1%?
The most frequently represented occupations of taxpayers in the top 1% of US taxpayers, according to IRS data, includes corporate executives, financial professionals, doctors, lawyers and a broad category of occupations that including technical, scientific, computer, math and engineering jobs.
In 2011 a taxpayer mades the cut and is included in the top 1% at $379,000 annual income.
Most of these people should be given medals for their productivity and their contribution to society in the form of all the taxes they pay.
The top 1% earned 19% of all the income reported to the IRS (2011) and paid 35% of all federal income taxes.
Thank you!
- Mark S Gleason CPA
www.lakes-cpa.com
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