Portfolio managers may be called investment managers, wealth managers, asset managers or financial advisors, but a true portfolio manager position is focused on the analytical side of investing rather than the sales aspect. Job Description
The New York Times reported on April 8, 2009, that the average American paid 20.7 percent of all her income in federal taxes. This did not include state and local taxes. The highest 20 percent of income earners paid almost 26 percent of their income in personal federal income taxes, while making almost 56 percent of all income. The top 1 percent of Americans received a full fifth of all American income while paying 28 percent of their income in federal taxes.
Americans pay many types of taxes. One of the biggest misconceptions about the U.S. tax code is that a large portion of Americans do not pay federal taxes. Although it is true that the bottom 40 percent of income earners pay no individual income tax, they face payroll taxes if they are working. In fact, about 90 percent of American taxpayers pay more in payroll taxes than in individual income taxes.