I've previously mentioned Lee Eisenburg of Able Financial Group and how he sends me great e-mails which have interesting information "By The Number$." Interesting facts today include:
TAX STATS - In 1980, the top 1% of US taxpayers earned at least $81,000 in adjusted gross income (AGI), accounted for 8% of all AGI nationwide and paid 19% of all federal income tax. In 2007 (the most recent year for which data is available), the top 1% of US taxpayers earned at least $410,000 in AGI, accounted for 23% of all AGI nationwide and paid 40% of all federal income tax (source: Internal Revenue Service).
OBAMA’S STOCK MARKET - Since Barack Obama was elected President of the United States on 11/04/08 (i.e., 1 year ago this upcoming Wednesday), the S&P 500 has been up +10.1% (total return) through the close of trading last Friday night. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: BTN Research).
ONE DAY - The best 1-day performance for the S&P 500 since Barack Obama was elected President on 11/04/08 took place on Monday 3/23/09 when the stock index gained +7.1% (total return) in just 6 ½ hours of trading (source: BTN Research).
SEVEN, NOT EIGHT - The S&P 500’s streak of 7 consecutive up-months (on a total return basis) ended last Friday. The stock index lost 1.8% in October but has still gained +43.1% over the last 8 months (source: BTN Research).
FOR A NUMBER OF REASONS - 30% of Americans age 45-64 surveyed in late July 2009 have stopped contributing to a pre-tax retirement plan (source: AARP).
WAY UP - The average nationwide price of gasoline has increased $1.08 a gallon YTD to $2.70 as of last Friday while the price of oil has increased $32.89 a barrel YTD to $77.49 (source: AAA, NY Mercantile).
BIG BUCKS FOR THE SIXTH GRADER - The average cost for 1-year of college education at an in-state public college is $15,213 for the 2009-10 school year (including tuition, fees, room and board). The total 1-year cost has increased +6.5% per year over the last 30 years. If that same annual rate of inflation continues into the future, then a 6th grader today will ultimately pay $104,000 for his/her 4-years of education at an in-state public college during the years 2016-20 (source: College Board).
Tax Policy In The Trump Administration
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