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.
[10] As a result, most OECD countriesâ high average tax burden on labor is due to high payroll taxes (Figure 3). The average combined (employee and employer) payroll tax rate in the OECD was 22.6 percent in 2013, which was 6.7 percent higher than the U.Sâs combined rate of 15.9 percent. The total tax burden faced by wage earners in the United States is 31.3 percent of their pre-tax earnings, paying $16,658 in taxes in 2013, with $8,196 in individual income taxes and $8,462 in payroll taxes.