0
250000.00
This answer changes every Tax Year. The answer for the Top 2% is difficult to interpolate as the IRS reports Top 1% and Top 5%, but not Top 2%, so one has to guestimate. The above answer of $250,000 is a pretty good guess.
For 2010 - a year in a depression The IRS reports average gross income:
Top 1% 380,354*
Top 5% 159,619**
* While generally a Joint return, often only a 1 earner household.
** While generally a Joint return, often a 2 earner household.
From WSJ's 2007 report on 2004 Tax Year AGI Incomes (before The Meltdown):
Median - $25,076
Top 10% - $87,334
Top 5% - $120,212
Top 1% - $277,983
Top 0.5% - $397,949
Top 0.1% - $1,134,849
Top 0.01% - $5,349,795
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What country exports the largest percentage of the world's wood pulp and lumber?
The top five export countries in 1997 were Canada (22.0 percent), Japan (17.5 percent), Germany (8.0 percent), the United Kingdom (6.7 percent), and Mexico (5.5 percent).
How much would you need to earn to be in the top 5 of household income?
This is a good question...you would need to....POTATO
Which country has the highest tax rate?
Denmark has the highest income tax rate, with its top-taxed citizens paying 68% of their income. The basic tax rate starts at 42%. (Source; Guiness World Records.)
If mensa only admits new members with the top one half of 1 percent in IQ scoreswhat is the minimum acceptable score?
Mensa admits members who score within the top 2 percenton an IQ test.The score required to reach this limit depends on the IQ test.
What is the total Division 1 enrollment?
Division 1 is the top division of athletics in college. There are a number of schools that participate at this level with a total enrollment of approximately 2 million people.
The top 5 percent of wage earners in America annual income?
"Including all tax returns that had a positive AGI [adjusted gross income], taxpayers with an AGI of $153,542 or more in 2006 constituted the nation's top 5 percent of earners. To break into the top 1 percent, a tax return had to have an AGI of $388,806 or more. The top-earning 25 percent of taxpayers [have an] AGI over $64,702." http://www.taxfoundation.org/news/show/250.html
How much money does someone have to earn per year to be in the top 1 percent of the country?
"Including all tax returns that had a positive AGI [adjusted gross income], taxpayers with an AGI of $153,542 or more in 2006 constituted the nation's top 5 percent of earners. To break into the top 1 percent, a tax return had to have an AGI of $388,806 or more. The top-earning 25 percent of taxpayers [have an] AGI over $64,702." http://www.taxfoundation.org/news/show/250.html
What do the top 1 percent earners make in the us?
According to the National Taxpayers Union, the AGI (Adjusted Gross Income) of the bottom of the top 1% in 2008 was $380,354. AGI is Total Taxable Income minus various items such as pension contributions, alimony paid etc etc. Since it is "taxable income it does not include such things as interest on Tax free municipal bonds or Capital Gains, which is taxed in a different category. While the person at the bottom of this 1% had AGI of $380,354, (and now we're switching to 2007 figures) the person at the bottom of the top .74% of earners had an AGI of $500,000 or more. The top one quarter of one percent (.278% to be precise) had AGI of $1,000,000 or more. In the US in 2007 there were about 138 million taxpayers, so there should be about1,380,000 taxpayers with AGI north of $380,000: 383,640 taxpayers with more than $1,000,000 in AGI. Almost 18,000 taxpayers have (had) an AGI north of $10,000,000.
What is top 20 percent income in US?
As of this year the top twenty percent of income in the United States is "a household income of just over $100,000. The top 10 percent of earners have a household income of more than $148,687."
How much money do you need to earn to be at the high income level in the US?
As far as the US Treasury is concerned (e.g. the IRS), if you earn over $100,000, you are in the top 5% or so of all taxpayers.
Why do the Scandinavian countries have high taxes?
According to the OECD, Denmark (26.4 percent), Norway (19.7 percent), and Sweden (22.1 percent) all raise a high amount of tax revenue as a percent of GDP from individual income taxes and payroll taxes. This is compared to the 15 percent of GDP raised by the United States through its individual income taxes and payroll taxes for instance. In order to raise a lot of income tax revenue, income tax rates in Scandinavian countries are rather high except for that of Norway. Denmark's top marginal effective income tax rate is 60.4 percent. Sweden's is 56.4 percent. Norway's top marginal tax rate is 39 percent. Scandinavian income taxes raise a lot of revenue because they are actually considered flat. In other words, they tax most people at high rates, not just the high-income taxpayers. The top marginal tax rate of 60 percent in Denmark applies to all income over 1.2 times the average income in Denmark. Sweden and Norway have similarly flat income tax systems. Sweden's top marginal tax rate of 56.9 percent applies to all income over 1.5 times the average income in Sweden. Norway's top marginal tax rate of 39 percent applies to all income over 1.6 times the average Norwegian income.
Why do the Scandinavian have high taxes?
According to the OECD, Denmark (26.4 percent), Norway (19.7 percent), and Sweden (22.1 percent) all raise a high amount of tax revenue as a percent of GDP from individual income taxes and payroll taxes. This is compared to the 15 percent of GDP raised by the United States through its individual income taxes and payroll taxes for instance. In order to raise a lot of income tax revenue, income tax rates in Scandinavian countries are rather high except for that of Norway. Denmark's top marginal effective income tax rate is 60.4 percent. Sweden's is 56.4 percent. Norway's top marginal tax rate is 39 percent. Scandinavian income taxes raise a lot of revenue because they are actually considered flat. In other words, they tax most people at high rates, not just the high-income taxpayers. The top marginal tax rate of 60 percent in Denmark applies to all income over 1.2 times the average income in Denmark. Sweden and Norway have similarly flat income tax systems. Sweden's top marginal tax rate of 56.9 percent applies to all income over 1.5 times the average income in Sweden. Norway's top marginal tax rate of 39 percent applies to all income over 1.6 times the average Norwegian income.
How did how did the lower tax rates of the 80s and 90s affect the share of taxes paid by high-income taxpayers?
High-income taxpayers paid a larger portion of the tax bill when the top marginal rate was less than 40% than when it was 70% or more.
Why do Scandinavian countries have high taxes?
According to the OECD, Denmark (26.4 percent), Norway (19.7 percent), and Sweden (22.1 percent) all raise a high amount of tax revenue as a percent of GDP from individual income taxes and payroll taxes. This is compared to the 15 percent of GDP raised by the United States through its individual income taxes and payroll taxes for instance. In order to raise a lot of income tax revenue, income tax rates in Scandinavian countries are rather high except for that of Norway. Denmark's top marginal effective income tax rate is 60.4 percent. Sweden's is 56.4 percent. Norway's top marginal tax rate is 39 percent. Scandinavian income taxes raise a lot of revenue because they are actually considered flat. In other words, they tax most people at high rates, not just the high-income taxpayers. The top marginal tax rate of 60 percent in Denmark applies to all income over 1.2 times the average income in Denmark. Sweden and Norway have similarly flat income tax systems. Sweden's top marginal tax rate of 56.9 percent applies to all income over 1.5 times the average income in Sweden. Norway's top marginal tax rate of 39 percent applies to all income over 1.6 times the average Norwegian income.
Do professionals have to pay taxes?
Professional whats?Actually, by law, everyone must pay taxes to the commonwealth in which they live and for any services or products they pay for which are deemed taxable.It's just that the tax laws are written to favor the wealthy.Of course professionals pay taxes...in fact much more than all others combined...and historically....they and the aristocracy were frequently the only ones to do so. More clearly, they use less of the things taxes are needed to pay for...(they don't use public services much), and just as clearly, buy many more things that have sales, excise and other taxes placed on them than those who live at a more substance level.Facts: http://www.taxfoundation.org/taxdata/show/250.html Where the independent and in depth analysis to support (the top 1% of earners pay 40% of all the tax): "This year's numbers show that both the income share earned by the top 1 percent and the tax share paid by the top 1 percent have reached all-time highs. In 2005, the top 1 percent of tax returns paid 39.4 percent of all federal individual income taxes and earned 21.2 percent of adjusted gross income, both of which are significantly higher than 2004 when the top 1 percent earned 19 percent of AGI and paid 36.9 percent of federal individual income taxes." And "The top-earning 25 percent of taxpayers (AGI over $62,068) earned 67.5 percent of the nation's income, but they paid more than four out of every five dollars collected by the federal income tax (86 percent). The top 1 percent of taxpayers (AGI over $364,657) earned approximately 21.2 percent of the nation's income (as defined by AGI), yet paid 39.4 percent of all federal income taxes. That means the top 1 percent of tax returns paid about the same amount of federal individual income taxes as the bottom 95 percent of tax returns."
What is your income in top 2 percent family earners in US?
150000
The top 7 percent of wage earners in America annual income?
120,000
