October 1997
Journal of Financial Planning;Oct97, Vol. 10 Issue 5, p18
Academic Journal
The article gives statistical information related to the economy of the United States. The following figures were obtained: percentage of total taxes collected by IRS in 1996 represented its estate and gift taxes was 1.2%; percentage of total taxes collected by IRS in 1996 represented by individual income taxes was 48%; percentage of employees expected to be enrolled in HMOs by the year 2000 was 40%; percentage of two-income couples hit by the income tax "marriage penalty" in 1996 was 42%; percentage of two-income couples who received a "marriage bonus" on their income taxes in 1996 was 51%; percentage of people saving for retirement who do not know maximum tax deductible contribution allowed to IRA was 56%; percentage of families who have discussed last wishes, finances and location of financial documents with their adult children was 50%; percentage of pensioners who receive less from their pension plans than they are entitled to was 14%.


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