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On Income Earners

Understanding the Top 50 Percent [By Anonymous Reader] QUESTION: How much do you need to make to be in the top 50 percent of earners? ANSWER: Just $36,055. Fall below that level and you are in the bottom half, along with about 68 million of your fellow taxpayers. All told, that group earned just 11.1 percent of the AGI reported on 2012 Federal returns.

Half of all taxpayers earn less than $35,055

If the top one percent where the decision makers live were to quit squeezing so hard, the rest of the population might be subject to paying more taxes.

The problem with the American Dream sold to the masses is that it is not achievable for them. Yet, they keep on voting for it. The biggest problem with voters is they do not have a solid grounding in economics.

Thus, they cannot judge economic policy in any rational way. If the voting public voted for what was truly in their interest, the top one percent would see their influence wane rapidly. It is the height of insanity that the public keeps on voting for politicians who espouse policies that are designed to benefit the economic elite.

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Note: A recent finding by Oxfam that the top one percent will control fifty percent of the worlds’ wealth by 2016.

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More:

• Physician’s Personal Income Tax Review for 2013
• US Income Distribution [Doctors versus Laymen]
• The US Income Gap as a New Reality Check for Doctors NOT Going Broke

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Filed under: Op-Editorials, Taxation | Tagged: American Dream, Income, OxFam |