If you’re one of the richest Americans — not the 1% but the 0.008% of U.S. taxpayers who rake in more than $10 million per year — you’re probably thanking your broker more than your company’s board.
In the tax returns filed through July for 2014, 40.1% of the super rich’s income came from investments, according to newly released IRS data. That’s a higher share than at any comparable point since the financial meltdown.
It’s important to note, however, that we’re only about halfway through the year — and if recent history is any indication, that number is likely to climb. In fact, capital gains could wind up accounting for more than half of all income for those ultrahigh earners.
Read more at MONY