1% of 330,000,000 is 3,300,000. Now you are talking about billionaires. Different definitions. The 1% starts around $370,000 a year.
thats "income" not wealth, and only "income" as defined by the IRS which is sweeping in it's scope for the little guy, but narrrowly tailored to dodge the types of "Net Positive In-Bound Currency Transactions Which Increase One's Net Worth" found among the actual wealthy.
mowed your elderly neighbor's lawn and she gave you $20 despite your attempts to decline it? That's Income!
Taxable Income!
got $20 million in company stock and a gulfstream 5 for a successful IPO? Not Income! Not Taxable, carry on Old Bean!
Kid's Paper Route? poor lil johnny, lemme help you fill out your 1040 EZ.. sorry bro.
Paris Hilton's trust fund? "i dont pay taxes because im pretty right?" wrong dumbass. you dont pay taxes cuz the guys who make tax law dont wanna tax themselves, and they get their "Totally Not Income" money the same way you do , you dumb slut.
the tax laws are fucked up, and the truely rich dont pay taxes on most of their "Non-Income" income, but if they DID pay the tax assigned currently, they would be getting gouged the way the Occupy-Tards talk about in their most fevered proletarian fantasies.
the lefties always conflate Capital and Profit with
WAGES because they dont know how money works or what a wage really represents.