Thursday, April 9, 2015

Where the rich make their income

http://www.cnbc.com/id/

A study from the non-partisan Tax Policy Center looked at the sources of income for American taxpayers of different income levels. It found that the higher you go up the income ladder, the greater share of income comes from capital gains.

For the 99 percent of taxpayers making less than $500,000, salaries and wages account for 75 percent of their adjusted gross income for 2012, the latest period available from Internal Revenue Service returns. Of the remaining income, about half came from retirement programs such as pensions, annuities and Individual Retirement Accounts.

For taxpayers making $500,000 to $1 million, salaries and wages account for more than half of earnings.

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