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Forum Post: How much annual $$ do you need to be the 1%?

Posted 12 years ago on Nov. 4, 2011, 4:23 p.m. EST by dthompson (79) from New York, NY
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How much annual $$ do you need to be the 1%?



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[-] 1 points by Jrobin8 (40) 12 years ago

I think the media reports this a lot of different ways to confuse those who think they might be in the 1% into believing they are in the "wealthy country club". But, I thinks this speaks to a bigger point: We should call ourselves the 99+%, with the + representing those who are in the 1% who agree that an economic change is in order and who supports the movement. It is hard for me to believe that all 1% are greedy, but I think that those who are not should come out and say so. Saying that you oppose something is a lot different than standing around and doing nothing about it. And then those people should give to the movement.

[-] 1 points by NotMyFaultFriends (2) from Newark, NJ 12 years ago

The IRS says it's about $380,000 - but then that's for taxpaying households, so if you were to attempt to factor in the non-taxpaying-households the number would be much less. My guess - and it's only a guess - would be about $100,000.

[-] 1 points by SandyEnglish (60) 12 years ago

According to the Fiscal Policy Institute, in New York City the top 1% of income earners -- about 35,000 families -- earn $3.7 million a year or more.

[-] 1 points by socal63 (124) 12 years ago

The WSJ site is based on HOUSEHOLD income. Individual income would surely be on a lower scale.

$505,000 shows at the 98th percentile $510,000 shows at the 99th percentile


[-] 1 points by NotMyFaultFriends (2) from Newark, NJ 12 years ago

Oddly in another story they reported it as $380,000. I question the accuracy of their calculator, since I've seen the $380 in charts linked to IRS data. http://blogs.wsj.com/wealth/2011/11/03/millionaires-sharply-divided-over-occupy-wall-street/

[-] 1 points by socal63 (124) 12 years ago

I looked at a site the other day that showed $500K/year. I'll look again and post a link.

[-] 1 points by Jrobin8 (40) 12 years ago

I could be wrong, but I believe it is $954,000. But keep in mind that this was reported by our "unbiased" media.

[-] 0 points by Frankie (733) 12 years ago

Depends on how you want to count it.

If by 1% of the population, then it would be ~3,000,000 people and starts at about $250K - $300K annual income level.

If by the top 1% of incomes, then the number of people are smaller and the amount higher as below.

If you want to count by total asset value versus income, the number is different again.