$250 K or more

What percentage of US households make more than $250,000 per year?

Looks like < 1.5%: http://en.wikipedia.org/wiki/Household_income_in_the_United_States

Thanks.

Where does the 95% come from?

Where does what 95% come from?

One of Obama’s big talking points is that under his plan, 95% of Americans, everyone earning $250,000 or less, would receive a tax cut.

I believe the actual claim is that 95% of American families will receive a tax cut, and nobody under $250,000 will see their taxes go UP. There is a range (about 4.5% apparently) that would not see a cut or an increase.

I would hazard a guess that he’s being conservative. No pun intended. He doesn’t want some number wonk to call him on the precise number of households making more than 250K, so he’s backed off a bit, and besides, there are probably tax code issues that change the percentage a bit…

ETA: Jas09 makes a good point.

A related question:

When are the tax rates published for a given year? I’m assuming it’s pretty close to the time they’re decided?

Another related, if you don’t mind… is that $250K per taxpayer or household? If per person, is there a number for joint returns?