What's the difference between you and someone like Warren Buffett? For one thing, he's likely to be on the IRS' list of the top 400 earners based on annual income tax returns. You'd be on the list too, if you made more than $140 million in 2012, the latest year available.
That's the cutoff for inclusion on the tony list, a spot only 4,321 taxpayers can boast since the IRS began collecting the data in 1992. Some 114 taxpayers have appeared on the list 10 times or more. (Tweet This)
But that's not the only thing keeping you from the 400 Club: Capital gains made up at least 68 percent of the income for the top 400 earners in 2012, a record total of $92 billion. Capital gains made up a paltry 9 percent of income for all taxpayers.
