No Cerveza... No Trabajo
Join Date: Jun 2002
Location: Where's my beer?
To put the "Top 10%", "Top 5%", "Top 1%" in perspective...
In terms of top 10% you are probably looking at 100K a year. In terms of top 5% you are probably looking at 130K a year and the top 1% is around 300K a year.
Also, in terms of total wages, the top 25% of wage earners earn aroud 66% all the income and pay over 84% of the total tax. Bottom 50% earned only about 15% of the wages but only pay 3% of the taxes.
Percentages are just a tad screwed...
My 401K is now a 400K (was 301K)