Top 1% only make 160 Grand?

ccb056 · Post by **ccb056** » Thu Mar 04, 2004 4:08 pm

I was listening to an AM Radio station while comming home from school and they were having a discussion on how much people should pay as far as income taxes go. An interesting thing they said is that only the top 1% of people make $160,000 a year. Im not sure if that's just for New Orleans or all of the US. To me, 160,000 is a little low, espically if youre filing jointly. Any ideas?

Sting_Ray · Post by **Sting_Ray** » Thu Mar 04, 2004 4:25 pm

And people think we're lying when we say the top 1% pay 40% of the taxes huh?

The top 1% makes up about 50% of the population. I think it's all just a buncha crap myself.

Mobius · Post by **Mobius** » Thu Mar 04, 2004 6:18 pm

You are forgetting that average US income is about $30,000 p.a. So $160,000 sounds about right to me. That's over 5 times the average, and a normal bell curve would indicate the same sort of numbers.

bash · Post by **bash** » Thu Mar 04, 2004 6:24 pm

Real median US household income = $42k.