Observations on life

Top 1%

When you hear the words top 1% earners, do you immediately think of those dreaded billionaires, the people with $40 billion in their company’s stock?

Today being in the top one percent of earners has become a negative. Somehow these folks are the bad guys in society taking income from the rest of us.

More to the truth is that 1% earners are college professors and top administrators, football coaches, bloggers (not this one, however) doctors, athletes, politicians, some union leaders, even the US president (any president).

To earn in the top 1% in the US your income must be $421,926 a year, but that varies widely by state. In Mississippi you need $254,362.

The national average income for the 1% is only 6.9 times the US median household income. Sure, some people in the 1% earn way more than the average, but those few just pull it up.

The point is that overall 1% earners in the US are not greedy, despicable opportunists seeking to hold down the middle class as some politicians would have you believe.

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Categories: Observations on life

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4 replies »

  1. The cost of entry into top 1% differs depending on source. Investopedia.com says $718,766 is the earnings threshold based on data from the Social Security Administration. Myself, I think when people gripe about the 1% they’re really talking about the top 0.1%, earnings threshold= $2,757,000..

    But regardless of the 1% threshold, it does cast a wide net. I suspect my self-employed plumber is in the 1%… So does a highly-experienced master craftsman who charges $155 an hour qualify as greedy and despicable opportunist? Many people think so.

    Liked by 1 person

  2. Following the landmark civil rights legislation of 1964 & 1965, the original intent of equal opportunity for all slowly was transformed over the decades to equal results for all.

    Liked by 1 person

  3. Demonization is a tool used by the radical left for wealth redistribution…I don’t any poor people creating jobs and/or doing philanthropy !!

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  4. Since everybody likes to yell about CEO pay and income inequality, let look at this another way. To be in the top 1% of all the wage earners in the world, you only need to make $32,400 US dollars. That means that 58% of Americans are already in the world’s top 1% of wage earners. Chances are that you can pat yourself on the back for your hard work.

    One year I earned a spot as 5% earner in America before I retired. My income is now 60% less but I am richer than I have ever been. Why? I have no debt. And I am still in the world’s top 1%.

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