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According to the National Taxpayers Union, the AGI (Adjusted Gross Income) of the bottom of the top 1% in 2008 was $380,354.
AGI is Total Taxable Income minus various items such as pension contributions, alimony paid etc etc.
Since it is "taxable income it does not include such things as interest on Tax free municipal bonds or Capital Gains, which is taxed in a different category.
While the person at the bottom of this 1% had AGI of $380,354, (and now we're switching to 2007 figures) the person at the bottom of the top .74% of earners had an AGI of $500,000 or more. The top one quarter of one percent (.278% to be precise) had AGI of $1,000,000 or more.
In the US in 2007 there were about 138 million taxpayers, so there should be about1,380,000 taxpayers with AGI north of $380,000: 383,640 taxpayers with more than $1,000,000 in AGI. Almost 18,000 taxpayers have (had) an AGI north of $10,000,000.
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