wealthiest 1 percent

The Decline of the Middle Class Explained in One Easy Graphic

For years, economists, analysts, politicians and pundits have bemoaned the steady decline of the middle class -- and, odds are, you've felt what they're talking about from the inside. But that's not the same as seeing the data laid out in front of you.

Median Family Wealth Is at a 43-Year Low, Study Finds

A recent study by NYU economics professor Edward N. Wolff puts the decline of the American middle class in a whole new perspective: According to Wolff's calculations, the median net worth of American households has now reached a 43-year low. And that's not only troubling statistic he found.

Presidential Debate Preview: What They'll Say About Taxes

In Wednesday's much-hyped debate between Barack Obama and Mitt Romney, few topics will loom larger than taxes -- a subject about which the two parties and their standard-bearers are fundamentally, philosophically divided. Here's what you're likely to hear.

Pop Quiz: Who Are the 47%, and What Do They Really Pay in Taxes?

Mitt Romney's criticism of the 47% of Americans who don't pay federal income tax has re-energized the debate over who pays into our system, and who reaps its rewards. But the answers to those questions are trickier than you might guess. Think you know how the tax system really works? Take a peek at our quiz.

Pop Quiz! Who's Winning the Tax Game (and By How Much)?

To get a handle on our nation's economic problems, it helps to start with the facts. But not all of them are as obvious as you'd think, so we're compiling some of the most surprising for our readers. Think you know all the answers? Take our quiz and see.

Obama's Tax Cut for the 1% (and Everyone Else, Too)

On Monday, President Obama revived his proposal to cut taxes on income below $250,000 a year -- which the GOP immediately decried as class warfare. The odd thing is, as "class warfare" goes, Obama's proposal would actually give all the wealthy a pretty solid tax break.

Concierge Doctors: They're Not Just for the Super-Rich Anymore

Reading certain media reports, one might think that concierge medical care is a service solely for the very wealthy. But the concierge model actually is spreading more broadly through the health care system to people who are far from being among the 1%.

Rick Santorum: An Average Guy with Ordinary Taxes

Rick Santorum has rarely shied away from controversy in his political career, but there's no controversy to be found in his taxes. Based on his recently released returns, Santorum appears to have been a conscientious taxpayer, and a fairly normal (if a little wealthy) guy.

How State Taxes Put a Bigger Pinch on the Poor

True, 47% of Americans pay no federal income tax. But, as a recent study points out, when all the other taxes we pay are factored in, the poor often pay a far greater percentage of their income in taxes than the rich.

How Can You Get Mitt's Tax Rate? (Hint: You Can't)

Amid all the chatter about Mitt Romney's high income and low taxes, many have wondered why more Americans don't take advantage of those attractive capital gains rates. The answer is that most people can't -- at least not on a level large enough to make a difference in their finances.

It's Official: Wealth Gap Is Our No. 1 Source of Conflict

Do you think that the biggest conflict in America today is between the rich and the poor? If so, join the club: According to a recent Pew Research Center poll, 66% of Americans believe the wealth gap is the greatest cause of tension in this country.

Take My Wealth, Please: Why Some 1%-ers Back the 99%

Millions of Americans who once viewed themselves in vague terms now see the world divided into two sharply defined groups: the 99% and the 1%. But the line isn't so clear cut, and many of the wealthy have been reaching across it for quite awhile.

How Buffett's Plan Cuts Taxes for Some of the Wealthy

In the political battle over taxes, Warren Buffett has been cited often -- both as an example of the country's unbalanced tax code and for his popular plan to boost taxes on the rich. There's just one thing: His plan would leave many of them paying less.