I will be on vacation for a few days.
Ponder this point about our great nation, if you dare.
From the IRS data I've used before, the first 51 percent of all taxpayers have an average income of $14,985 before taxes.
The last one percent?
They have an average income before taxes of $1.667 million.
[Notes: I've used raw data on all income, taxable and non-taxable as presented by the IRS for 2005 on the file named 05in11si.xls. The link is available on this blog. For the first 51 percent, I've slightly overstated income. For the last one percent, I've understated income. I didn't want to wind up having some idiot claim I doctored the numbers to make this distribution look more skewed.]
Monday, March 24, 2008
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