The top 1%, representing 1.54 million federal income tax returns in 2021, earned 26.3% of total adjusted gross income but shouldered a striking 45.8% of the overall federal income tax burden.
In contrast, the bottom 50%, with nearly 77 million tax returns, earned 10.4% of total adjusted gross income and carried only 2.3% of the federal tax burden.
Remarkably, the bottom 98% of taxpayers—approximately 150.5 million returns—earned 68.1% of adjusted gross income in 2021 yet contributed just 46.2% of total federal income taxes, a share only slightly higher than that of the top 1%.
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Do not get caught up in the relatively low year-over-year inflation readings for this month and likely next; that has more to do with “base effects,” as outsized monthly jumps in May and June 2022 roll off the year-ago comparisons…https://t.co/JxMefcAsJB https://t.co/s9LSJuqJSC
We get a lot of questions about #investments, especially #retirementplans . While everyone has different needs and goals, here are a few common questions we receive, and some basics to consider: https://t.co/3YONAQwe6I
Near term #equitymarkets may have come too far too fast and the #economic outlook still has downside risk. Looking a year out, we maintain cautious optimism, but history says markets may still have some rough patches to get through…https://t.co/QIXwcT55zM https://t.co/9N8RQSZnVV
The Federal Reserve reported yesterday that the M2 measure of the money supply declined 0.6% in September, the largest drop for any month on record going back to at least 1959. The M2 money supply soared 40.3% in 2020-21, the largest increase for any two…https://t.co/DTVtkXqO58
Headline #inflation is likely past its peak, but the #fed still has work to do. The Fed will likely increase rates again by 0.75% in November as core inflation is not cooling as fast as expected. While avoiding a deep #recession re…https://t.co/GCMBwtKkjP https://t.co/RmPkVvQHTL
#Retirement plan advisers may find themselves acting more as financial psychologists than financial advisers, because participants are stressed about the rising cost of living and market volatility, said Sean Kelly, CFP AIF . Withi…https://t.co/8dUOZCBBgw https://t.co/pXfkcbwLFi
Headline #inflation is slowly easing, but rising food and shelter costs put acute pressure on U.S. consumers. The Personal Consumption Expenditure (PCE) price deflator, the Fed's preferred inflation gauge, will likely show a slower…https://t.co/4FMSGBBmNm https://t.co/Fse1jmbi3M
The #stockmarkets this year have felt like a rollercoaster so it’s no surprise that the data shows it has been one of the toughest and most volatile on record. In fact, intraday #stock market swings of over 1% have been occurring a…https://t.co/8sowNrRcvl https://t.co/6CVMeDqwJR
It’s widely known among #investors that #stocks tend not to do very well in September. The combination of peak hawkishness from the #Fed and the frustratingly slow pace at which #inflation is cooling could make this a tough month for stocks. https://t.co/zHN9L5ZdJj
As #inflation eases, the #Fed can now tighten monetary policy at a slower pace. The Fed still has a lot of work to do, but pricing pressures seem to be easing. #markets#investors https://t.co/bh4aljO6sL
2022 has been a rough year for the U.S. consumer, but LPL Research shares some potential signs that energy trends could be changing. https://t.co/3W3U5E0ba3
LPL Research discusses the outlook for diversified portfolios of stocks and bonds to make the case that the 60/40 portfolio isn’t dead. https://t.co/XzR0YtOiNC