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I’ve seen this statement many times. I have trouble believing it. Maybe 18% of those paying Federal income taxes are millionaires but when 50% of Americans don't pay any income tax at all, it’s hard to believe almost 20% of Americans have a net worth of one million dollars or more. Next time you visit Walmart, one out of every five shoppers a millionaire?
From the linked article: “According to the Federal Reserve's 2022 survey, approximately 18% of U.S. households had at least seven figures net worth.”
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