The top 1% in the US changed significantly from 2007 to 2009, with only 43% remaining in that category. The turnover rate is high, with three out of five households dropping out within a decade. The top 1% earned as much as the bottom 60% combined in 2005 and paid 38% of all federal income taxes in 2008.
The people who make up the top 1% in the United States changed dramatically from 2007 to 2009. Of those in the top 1% in 2007, only about 43% remained in that category by 2009. Of these, about 92% remained in the top 10% and most of the other 8% remained in the top half.
Learn more about top earners in the US:
There tends to be a lot of turnover among those in the top 1%. The US Treasury estimates that for every five households in the top 1% in a given year, three will drop out of that category within a decade.
As of 2005, the top 1% earned as much annually as the bottom 60% combined.
The top 1% of earners in the United States paid 38% of all federal income taxes paid in 2008. Those in the income categories of the 50% or lower accounted for only 3% of federal income taxes paid. The percentage of federal income taxes paid by those in the top 1% has increased by more than 16% since 1991.
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