Top 1%: What They Made, What They Paid
What does it take to make it into the top 1%?
[one_fourth]
That’s a healthy jump from the $389,000 it took the year before, especially considering how low inflation has been in recent years.
The number of people admitted to this exclusive club: nearly 1.4 million households.
Collectively, the top 1% made about 22% of all income reported in 2012, but paid 38% of total federal income taxes collected.
On a per-household basis, however, the average top 1%-er paid just under 23% of their income in federal taxes, which was down slightly from the year before — and well below the more than 27% the group was paying in 2001.
World’s billionaire tally climbs to 1,645
Since 2012, of course, several tax increases on high-income households have gone into effect as a result of the fiscal cliff deal and the Affordable Care Act.
