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What is the threshold to be the 1% richest in the United States? You have to be have at least $500,000 income a year

According to data released by the US Internal Revenue Service (IRS) this week, in 2017, if you want to be among the richest 1% of the population in the United States, you need have at least 515,371 US dollars incomee per year. Even after accounting for inflation, this threshold is higher than before. The year has increased by 7.2%.

Since the "Occupy Wall Street" demonstrators shouted the slogan "We are 99%" in 2011, the income threshold of the 1% of the richest people in the United States has increased by 33% after adjusting for inflation. The rate of rise is faster than all other groups, except those who are richer.

In 2017,  if you want to be among the richest 0.1%, then you need at least have $2.4 million in annual income, up 38% from 2011. The threshold of the most 0.01% increased by 46%.

At the same time, the 0.001% of the population (only 1433) had an annual income of at least $63.4 million in 2017, a 51% increase from 2011.

Since 2011, the median annual income of US taxpayers has increased by 20%.

However, although the wealthy in the United States live well, they pay the most taxes. The richest 1% of the population earned 21% of the nation's income, while the federal personal income tax paid accounted for 38.5% of the total, which exceeded the total of the bottom 90% of the population, which accounted for 29.9%.

Working-class taxpayers do pay a lot of other taxes, including payroll taxes for social security and health insurance, as well as state and local taxes. However, the federal income tax paid in the lower half of the income distribution is small. The top 50% of the income �C the adjusted taxpayer with an annual income of $41,740 or more �C pays 97% of the income tax.

According to the US Internal Revenue Service, in 2017 the United States imposed a total of $1.6 trillion in income tax on 143.3 million taxpayers, and their adjusted total income was $10.9 trillion.

The US Internal Revenue Service data does not reflect the impact of the Trump tax reform at the end of 2017. This tax reform reduced the personal income tax rate, while canceling many deductions and reducing the income tax rate of US companies from 35% to 21%.

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