Quote:
Originally Posted by classicman
Whats the income at 5% Sam?
IIRC, Its about $150,000. Thats not all that wealthy in the real world.
Now if you want to go at the top 1 or 2%. . .
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Good question, Classic. I did a Google search on it and most of statistics I found seem to agree with you that the lower boundary of adjusted gross income for the upper 5% starts at about $159,000. For the top 1% AGI starts at $380,000 and goes up from there.
In addition, the top 50% have a share of 87% of the national AGI, while the bottom 50% have a share of 13% of the national AGI. Pretty wide gap there.
$150,000 may not be all that wealthy in the real world, but what does that then imply for $30,000 or $40,000? REALLY not all that wealthy?