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Old 06-29-2019, 05:03 AM
 
962 posts, read 189,508 times
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Is it possible to find out, (For Adjusted to todays Dollar) how many % of the American taxpayers, earned more then $1 Million in salary.. going back 100-200 years?


If you exclude capital gains, dividends, inheritance etc etc... Just personal income.


As of today, only 0.1% of all Americans have $1 Million or more in personal income.
How many where there 100 years ago? Or 20-30-40-50 years ago?
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Old 06-29-2019, 07:43 AM
 
527 posts, read 616,303 times
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Roughly 250k peoole per year on average over the last 30 years. But the same folks tend to be there in multiple years in a row.

So I would through out a rough estimate of about 500k people. Athletes 100 years ago as well as CEOs did not make 1 million dollars a year.

There are only 300ish people who make more than $25M year in salary.

To be in the top 1% of income eatners you need around $380k dollars. Average income for the top 1% is inly around $750k as year.

The truly wealthy are the 0.000001%.
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Old 06-29-2019, 07:53 AM
 
Location: The Triad (NC)
28,482 posts, read 62,084,629 times
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Quote:
Originally Posted by Northman83 View Post
As of today, only 0.1% of all Americans have $1 Million or more in personal income.
How many where there 100 years ago? Or 20-30-40-50 years ago?
If you exclude capital gains, dividends, inheritance etc etc... Just (earned) income.
Nope. Really can't do that. At that level the cross pollination gets murky very fast.


Quote:
Is it possible to find out, (For Adjusted to todays Dollar) how many % of the American taxpayers,
earned more then $1 Million in salary.. going back 100-200 years?
Not all that many; maybe 1% of the .01% you cited above. More recently of course but still not many.
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Old 06-29-2019, 09:32 AM
 
Location: Boston
7,800 posts, read 2,269,793 times
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the whole idea that we can pay for all of these social programs by taxing these millions of people making millions of dollars is just pure fantasy. There aren't that many of them and taxing them at 50% won't make a dent in paying the bills.
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Old 06-29-2019, 10:31 AM
 
Location: North Idaho
22,654 posts, read 28,660,433 times
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Going back 200 years? A million dollars was a lot of money 200 years ago. Probably only royalty made that much that long ago and most of it went back out again in national defense. Oh wait... that wasn't a million in salary.


Today if you don't count dividends, capital gains, stock options, disbursements, and any other source of income outside of a paycheck, there are very very few people with a paycheck that is over a million a year.
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Old 06-29-2019, 10:32 AM
 
Location: North Idaho
22,654 posts, read 28,660,433 times
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Quote:
Originally Posted by skeddy View Post
the whole idea that we can pay for all of these social programs by taxing these millions of people making millions of dollars is just pure fantasy. There aren't that many of them and taxing them at 50% won't make a dent in paying the bills.

People with a million a year in income are already paying over 50% of their income in taxes.
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Old 06-29-2019, 10:35 AM
 
795 posts, read 465,832 times
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Quote:
Originally Posted by skeddy View Post
the whole idea that we can pay for all of these social programs by taxing these millions of people making millions of dollars is just pure fantasy. There aren't that many of them and taxing them at 50% won't make a dent in paying the bills.

ssshh...that conversation won't come until later.
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Old 06-29-2019, 10:41 AM
 
Location: The Triad (NC)
28,482 posts, read 62,084,629 times
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Quote:
Originally Posted by skeddy View Post
the whole idea that we can pay for all of these social programs by taxing...
By taxing the ULTRA high net worth "wealthy" who btw ≠ the high earners being discussed here.
Do keep the story and this distinction straight.
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Old 06-29-2019, 11:46 AM
 
527 posts, read 616,303 times
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Back in 1915 the average income was $687 and that would be comparable to earning $16,063 a year in today's money. So Americans' buying power has improved considerably in the last century.

In 1925 there were only 124 people in the entire country making a million dollars with their tax forms to the IRS.

Millionaires of the Nineteen Twenties

There were only 7 people that made more than 5 million dollars back in 1925.

In 2017 the U.S. had 11 million millionaire households.

The whole rich get richer is true but the whole talk of a poor person not being able to become a millionaire is complete bull s%^&
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Old 06-29-2019, 11:46 AM
 
Location: East Coast of the United States
17,219 posts, read 19,521,254 times
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Well, I don't see too many jobs that are advertised as paying $1 million a year.

So, I wouldn't even know how to apply to one.
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