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This is a list of the world's countries measuring the income of the richest one percent each (before taxes and transfers). The source of the data is the United Nations Development Programme , and refers to the latest available date. [ 1 ]
The top 1% of taxpayers — those who earn $561,351 or more — paid 42.3% of the total tax revenue collected in 2020, according to the latest figures from the IRS.
1. Wisconsin. Minimum income to be considered 1%: $434,346. Average income of the 1%: $1,203,326 Average income tax paid by the 1%: $297,267 Average tax rate of the 1%: 24.70% More From GOBankingRates
As of 2007, the richest 1% held about 38% of all privately held wealth in the United States. [14] While the bottom 90% held 73.2% of all debt. [73] According to The New York Times, the richest 1 percent in the United States now own more wealth than the bottom 90 percent. [79]
Alaska Minimum income needed to be considered 1%: 444,471 Average income of the 1%: $936,890 Average tax paid: $232,313 Average tax rate: 24.80%
The main distinguishing feature of this class, which includes an estimated 1% of the population, is the source of income. While the vast majority of people and households derive their income from wages or salaries, those in the upper class derive their primary income from business profits, investments, and capital gains . [ 5 ]
After the Great Recession started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. Median household wealth dropped by 36.1% compared to a drop of only 11.1% for the top 1%, further widening the gap.
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