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> What is the denominator on the fraction that generated the percentage? 100. That's what "per cent" means, percentages are a way of comparing ratios without
by RugnirViking 3y ago
> What is the denominator on the fraction that generated the percentage?
100. That's what "per cent" means, percentages are a way of comparing ratios without needing to worry about scaling both numbers. The % sign is shorthand for /100 .
As for the citation im not the op but it was the 400 richest families and it was the white house itself
https://www.whitehouse.gov/cea/written-materials/2021/09/23/what-is-the-average-federal-individual-income-tax-rate-on-the-wealthiest-americans/ https://www.whitehouse.gov/cea/written-materials/2021/09/23/...
- onlyrealcuzzo 3y agoNo. The numerator is theoretically their tax bill. The denominator is not 100. It should be their income - but that's complicated to count.
- robertlagrant 3y agoThe silliness aside, the answer is in the link: > For the denominator, we use changes in the reported wealth of the Forbes 400 to estimate the income of the 400 wealthiest families.
- sershe 3y agoSo in other words it's completely bogus, at the very least due to unrealized capital gains, and probably thru few more fudge factors like what is "reported" wealth?
- robertlagrant 3y agoIt does seem disingenuous to use a percentage, when the error bars are likely an order of magnitude either side of the stated figure.