Based on the Internal Revenue Service’s 2010 database below, here’s how much the top Americans make:
Top 1%: $380,354
Top 5%: $159,619
Top 10%: $113,799
Top 25%: $67,280
Top 50%: >$33,048
Percentage of Americans that make over 500K but less than 1 million(0.35%)
Percentage of Americans that make over 1Million but less than 10million (0.16%)
Percentage of Americans that make over 10million (0.01%)
Currently, the very highest income households, those with incomes over $1 million, are less likely to owe AMT than are households with incomes between $200,000 and $1 million.
Do you get what this is saying?!!! The AMT (Alternative Minimum Tax) is sold to the public (American Citizens who think our government is looking out for our interests) as a means for "rich" people to still be required to pay taxes despite making their money from investment income rather than wage earner incomes, but in reality the elite rich -ARE LESS LIKELY to owe AMT than those with incomes between $200Kand $1Million.
Ok! Ready for the big surprise...What to you think the majority of US Congress and Senators are worth? You guessed it, over $1 million...I wonder why the AMT doesn't apply to Millionaires?????
My point is this...sure the top 1% make a lot of money ($380K), but these people are the business owners of America and they do pay the bulk share of our nations taxes, despite what we are led to believe by today's politicians. It is not the 1% that we should be upset with. It is the top 0.16% who escape paying their share of taxes, control politicians or are politicians, and pursue power much greater than mere accumulation of wealth....
The top-earning 5 percent of taxpayers (AGI equal to or greater than $154,643) paid far more than the bottom 95 percent. The top 5 percent earned 31.7 percent of the nation's adjusted gross income, but paid approximately 58.7 percent of federal individual income taxes.
Sit back and listen to one Honest Politician
Thank you, peace out....