What do you think the top 20% of families make? $200,000? $500,000? 1 million?! I’ve asked this question to at least 25 different people, and no one has been right. Ever. Everyone has stated upwards of $150,000/yr. So what is the answer?
Do this — take your income. If married, add in your spouse. If you aren’t a wage-earner yet, take your parents combined income. Now, is it more than $100,000/yr? Congratulations! You are in the elite 20% of wage-earning families!
Specifically, the top 20% make $97,032/year.
In 2005, the latest year for which figures are available, the top 1 percent of Americans — whose average income was $1.1 million a year — received 21.8 percent of the nation’s income, their largest share since 1929.
from 1995 to 2000, the long trend toward inequality was interrupted by general prosperity. The richest Americans did best, propelled by stock market gains.
Oh, and next time you elite 20% complain about how you never seem to have money might I suggest you kindly shut your petulant pie-hole and think a bit about the other 80%?