USA Facts – Federal, state, and local data from government sources

Re:USA Facts – Federal, state, and local data from governmen... by tbihl on Tuesday April 18, 2017 @06:31PM (#14143622)

While most of what you said is spot on, people often misunderstand what constitutes the super rich group with big tax breaks. It's way less than one percent, because it's the big investment money that's getting out of so much taxation. People who earn high salaries are actually paying quite substantial taxes.

For some perspective, "the 1%" starts at about $350k annual salary (think middle-of-the-pack surgeon.) At that level, you're paying a lot of taxes.

There's an excellent recent Econtalk on taxation in the US.

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Re:USA Facts – Federal, state, and local data from governmen... by deelowe on Tuesday April 18, 2017 @07:15PM (#14143920)

Smart money finds ways to reduce that income as much as possible and lives instead off capital gains. I find that there's a lot of smart money once you get above 350 or so annual.

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Re:USA Facts – Federal, state, and local data from governmen... by hwillis on Tuesday April 18, 2017 @08:51PM (#14144512)

For these purposes, income includes everything, down to and including appreciation of assets. Capital gains make up the majority of income only for people making 2 million+ annually.

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