Millionairs and Taxes and working

[Dolphin]

We all have are preconceptions about millionaires: they're tax evaders who just inherited their money from rich Aunt Flo, and they hang around the golf course all day with their snobby, elitist friends. So what's the average millionaire really like? Here are seven millionaire myths, and the real facts about the ones who seem to have it all.

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1. Millionaires Don't Pay Their Taxes
Fact: It is estimated that millionaires, those in the top 1% of earners, pay about 40 percent of all taxes. Current tax regulation shifts may change these numbers to make this even larger than that -- so think twice before accusing the millionaires in America of not paying taxes.

2. Millionaires Just Inherited Their Money
According to Thomas J. Stanley's book, "The Millionaire Next Door: The Surprising Secrets of America's Wealthy," only 20% of millionaires inherited their riches. The other 80% are what you'd call nouveau riche: first-generation millionaires who earned their cash on their own. Many millionaires simply worked, saved, and lived within their means to generate their wealth -- think accountants and managers: regular people going to work every day. Most millionaires didn't get their riches overnight when a rich relative died -- they worked for the money.