Fisher Island is the place where US millionaires liveSeptember 21st, 2011 - 6:30 pm ICT by Aishwarya Bhatt
Washington, Sept 21 (THAINDIAN NEWS) The IRS has zoned the areas in the United States where millionaires in the country live. In his latest bid to save the US economy, President Barack Obama has announced a massive plan to rake in extra $1.5 trillion in revenue. The plan targets the rich and the IRS has developed their map of where the rich in the United States lives.
The IRS categorized people who earn $200,000 and above as millionaires. The IRS used net worth to rank communities with high rate of millionaires. In the rankings, it was realized that Fisher Island had the highest concentration of millionaires in the United States. It is estimated that the community has $57 million per high-bracket return. Fisher Island is followed by Alpine with an estimated $28 million.
Washington’s Medina is the third richest community with $26 million and Palm Beach, Fla. is at the fourth position with $23 million. Long Island’s King’s Point/Great Neck area is estimated to have $22 million and is fifth of the list with high concentration of millionaires.
If the new tax reform proposal from Obama is accepted by US lawmakers, the rich in the United States will start paying more in taxes.
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Tags: alpine, barack obama, concentration, economy, fisher, great neck, irs, lawmakers, long island, map, medina, millionaires in the united states, net worth, palm beach, tax reform proposal, trillion