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A comment on Researchers estimate the richest 1% dodge taxes on over a fifth of their income. Parent comment

Re:Researchers estimate the richest 1% dodge taxes on over a... by snypher on Tuesday April 06, 2021 @10:37AM (#26712291)
>11% of Americans will be in the 1% for at least 1 year in their life

11% of Americans will make over $500k a year, or have $12M in assets, for one year?

This cannot possibly be true. Oh, Cato Institute? Say no more.

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Re:Researchers estimate the richest 1% dodge taxes on over a... by pseudo0 on Tuesday April 06, 2021 @01:06PM (#26714457)
Is 11% earning $500k for at least one year really that surprising? For example, a mom and pop small business selling their store in order to retire could qualify for one year, but that money would likely be the bulk of their retirement savings. It's probably not a useful metric though, if most of those people break $500k due to one-off lump sum payments.
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Re:Researchers estimate the richest 1% dodge taxes on over a... by tjs8rj on Tuesday April 06, 2021 @09:30PM (#26719550)
The npr source said 5% of Americans will be in the 1% for 2 consecutive years, so the Cato numbers aren’t far from what you might expect.
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