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.
Social Security Tax. The Social Security tax is calculated as a fixed percentage of your gross pay. Usually the Social Security tax rate is 6.2 percent, but for 2011 and 2012, Congress lowered the rate for employees to 4.2 percent. There is an annually adjusted income cap. For example, in 2012 the cap increased from $106,800 to $110,100.