In the US in 2017 the Richest 1% made at Least $515,371.

Matty-Sways

An annual income of at least $63.4 million will earn you the title of riches .001% in America.

In a lot of debates and other talk of the rich and taxes you always hear about the 1%. What does that mean in dollars and cents. The minimum for entry into the 1% club in 2017: $515,371, up 7.2% from the prior year, according to the most recent IRS data. About 1.4 million taxpayers earned at least that amount.

The top 0.001% (the highest income group identified by the IRS data), has an annual income of least $63.4 million.  

The gap between America's richest and poorest citizens has reached its widest range in 50 years according to Census data released last month.   

Tom Steyer, a billionaire who is running for president, said at Tuesday's debate that he also backs a wealth tax. "I would undo every Republican tax cut for rich people and major corporations," he said. "90% of Americans have not had a raise for 40 years."

Read full article here

Comments

Economics, Finance and Investing

FEATURED
COMMUNITY