To make money so that you can do good requires money
Posted Under: Wages from 1948 to 2008,Where does our money come from?
So lets see who has the money so that they can do good with it.
Lets turn to the IRS databook broken down by AGI that you can find by clicking here
We are going to work with that top row of links under “All Returns: Selected Income and Tax Items”
I will update this from time to time.
After analyzing the 2007 numbers I now realize that the true Middle Class in America ranges from 50,000 to 500,000 and I will start using those numbers in the future to do my calculations, i.e.,
1 to 50,000 = Working Poor
50,000 to 500,000 = Middle Class
500,000 and up = Rich
For now we are going to start with the most recent year which is 2007
Lets look at the quantity of tax filers by AGI first
Click to zoom in
- 19% make from 50,000 to 75,000
- 14% make from 100,000 to 200,000
- 12% make from 75,000 to 100,000
- 12% make from 30,00 to 40,000
Interesting isn’t it as it appears to negate everything I have been saying.
However we’re not through yet
Now lets look at the dollar amount for 2007
Click to zoom in
- 22% make from 100,000 to 200,000
- 14% make from 200,000 to 500,000
- 13% make from 50,000 to 75,000
- 12% make from 75,000 to 100,000
Now that is interesting isn’t it?
lets see how things are broken up above 500,000 as its hard to read these charts this way
Click to zoom in
- 62% make between 500,000 and 1,000,000
- 16% make between 1,000,000 and 1,500,000
- 10% make between 2,000,000 and 5,000,000
Now lets look at the dollar break down
Click to zoom in
- 30% make 10,000,000 or more
- 24% make 500,000 to 1,000,000
- 18% make 2,000,000 to 5,000,000
Interesting isn’t it?