Where the "Richest" Americans Live

[Wigmeister General]

http://financiallyfit.yahoo.com/fina...waad=ad0035&nc

According the data from the Census Bureau, there are currently 4.5 million households that earn over $200,000 per year, the highest wealth division compiled in Census reports, which is approximately 3.8% of all households in the country. The average income of those making over $250,000 is $425,226 and there were 2.37 million households in this range as of 2009, although this data is not broken down by state.

Digression:

2.37 million x $425,000 = $1.007 trillion.

If we increase taxes on the highest 3.8% of households by, say, another 25%, then we would have additional annual tax revenues of $250 billion.

TAX THE RICH !!!

[soyleche]

Originally Posted by Wigmeister General

http://financiallyfit.yahoo.com/fina...waad=ad0035&nc

According the data from the Census Bureau, there are currently 4.5 million households that earn over $200,000 per year, the highest wealth division compiled in Census reports, which is approximately 3.8% of all households in the country. The average income of those making over $250,000 is $425,226 and there were 2.37 million households in this range as of 2009, although this data is not broken down by state.

Digression:

2.37 million x $425,000 = $1.007 trillion.

If we increase taxes on the highest 3.8% of households by, say, another 25%, then they will spend another ~100B figuring out how to avoid paying taxes.

TAX THE RICH !!!

IFYP

[FormLetter]

Is there something wrong with paying money to figure out what the best way is for an individual to comply with the in-force tax law?

[Optimus Prime]

11. New Hampshire

% of Households Earning $200K+: 4.2%

Total Households: 501,505

Households Earning $200K+: 20,899

Median Income: $66,654

5. Massachusetts

% of Households Earning $200K+: 6.22%

Total Households: 2,449,133

Households Earning $200K+: 152,348

Median Income: $59,981

There median income is higher in NH than in MA?


I'm a little surpised by this.

[Snagus]

Originally Posted by FormLetter

Is there something wrong with paying money to figure out what the best way is for an individual to comply with the in-force tax law?

If they are doing it to avoid paying their fair share, then yes. If they are doing it to avoid overpaying their fair share of taxes, then no. That's the easy part. Now, we need a 200 post discussion on 'Is there a fair share when it comes to taxes?'.

[Loner]

Originally Posted by Optimus Prime

There median income is higher in NH than in MA?


I'm a little surpised by this.

Cities tend to have more of both extremes, not just more rich people. It's not that surprising, especially when you consider the more "rural" place requires you to have resources to transport yourself.

[the BS method]

City poor are at least 3rd generation at this point. I don't think transport is a causation. Maybe a bit

[notreallyme]

I think we need more Gov't that figure for DC seems really low. Only #1 c'mon!!!

[notreallyme]

Originally Posted by the BS method

City poor are at least 3rd generation at this point. I don't think transport is a causation. Maybe a bit

? I don't get it. We have lots of poor 1st generation here.

[FormLetter]

Originally Posted by Snagus

If they are doing it to avoid paying their fair share, then yes. If they are doing it to avoid overpaying their fair share of taxes, then no. That's the easy part. Now, we need a 200 post discussion on 'Is there a fair share when it comes to taxes?'.

What if they're doing it to minimize what they pay while still complying with the law?

Maybe we can just assume for this question that the legally required amount is their fair share.