In 2012, it took at least $435,00 in adjusted gross income to be considered one of the fabled top 1 percent households, according to the latest data from the IRS.
That’s a healthy jump from the $389,000 it took the year before, especially considering how low inflation has been in recent years.
The number of people admitted to this exclusive club: nearly 1.4 million households.
Collectively, the top 1 percent made about 22 percent of all income reported in 2012, but paid 38 percent of total federal income taxes collected.
On a per-household basis, however, the average top 1 percenter paid just under 23 percent of their income in federal taxes, which was down slightly from the year before — and well below the more than 27 percent the group was paying in 2001.
Since 2012, of course, several tax increases on high-income households have gone into effect as a result of the fiscal cliff deal and the Affordable Care Act.
