I never intended that this show become “The Entrepreneur’s Hour,” but that seems to be a central theme! Today, I share some data that I stumbled upon from an IRS analysis of the 400 highest income tax returns.
The results? Here are the income sources for the top 400 tax returns:
- Wages and salaries: 8.6%
- Interest: 6.6%
- Dividends: 13%
- Partnerships and corporations: 19.9%
- Capital gains: 45.8%
Did you need any more proof that profits are better than wages? Enjoy the analysis and conversation in today’s show!
(Make sure you pay attention to the data on how many taxpayers are in the top 400 each year. Make sure you mention it the next time you’re in a “who pays taxes” conversation.)
Links from today’s show:
- Forbes: Want to Be Rich? Salary Alone Won’t Get You There
- IRS Report: The 400 Individual Income Tax Returns Reporting the Largest Adjusted Gross Incomes Each Year, 1992-2009
- Jim Rohn: Profits are Better Than Wages
- Jim Rohn: Getting Rich is Easy (this is the video with messed up audio in the show)