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Last post 6 years ago by delta1. 14 replies replies.
How much money makes one in the top 1%?
Buckwheat Offline
#1 Posted:
Joined: 04-15-2004
Posts: 12,251
I keep seeing this thrown around without any $ value assigned to it. How much do you have to make to put you in the top 1%?
teedubbya Offline
#2 Posted:
Joined: 08-14-2003
Posts: 95,637
Tree fiddy
jjanecka Offline
#3 Posted:
Joined: 12-08-2015
Posts: 4,334
Of the world? I think it's around 30-35k.
cacman Offline
#4 Posted:
Joined: 07-03-2010
Posts: 12,216
If you have to ask, you're not even close.
deadeyedick Offline
#5 Posted:
Joined: 03-13-2003
Posts: 17,068
Buckwheat wrote:
I keep seeing this thrown around without any $ value assigned to it. How much do you have to make to put you in the top 1%?


In your state $263K/year. IIRC the avg is about $450K in the US
Buckwheat Offline
#6 Posted:
Joined: 04-15-2004
Posts: 12,251
deadeyedick wrote:
In your state $263K/year. IIRC the avg is about $450K in the US


Thank you. I just wanted a better perspective on the current tax debate.
victor809 Offline
#7 Posted:
Joined: 10-14-2011
Posts: 23,866
That seems low to make 1%... sounds more like 5%
Mr. Jones Offline
#8 Posted:
Joined: 06-12-2005
Posts: 19,409
500 L.A.R.G.E. AND .....BEEEEYOND++++
jjanecka Offline
#9 Posted:
Joined: 12-08-2015
Posts: 4,334
I really think there's no debate, 10% tax across the board for all people over the age of 18 regardless of income. No brackets, no loopholes, just pay your f'ckin 10%.
Buckwheat Offline
#10 Posted:
Joined: 04-15-2004
Posts: 12,251
The whole thing reminds me the the great CCR song Fortunate Son.

"Some folks are born made to wave the flag;
ooh, they’re red, white and blue.
And when the band plays “Hail to the Chief,”
ooh, they point the cannon at you.

It ain’t me, it ain’t me;
I ain’t no senator’s son.
It ain’t me, it ain’t me;
I ain’t no fortunate one.

Some folks are born silver spoon in hand,
Lord, don’t they help themselves?
But when the taxman comes to the door,
Lord, the house looks like a rummage sale.

It ain’t me, it ain’t me;
I ain’t no millionaire’s son.
It ain’t me, it ain’t me;
I ain’t no fortunate one.

Some folks inherit star-spangled eyes;
ooh, they’ll send you down to war.
And when you ask ’em, ‘How much should we give?”
ooh, they only answer, “More, more, more.”

It ain’t me, it ain’t me;
I ain’t no militarist’s son.
It ain’t me, it ain’t me;
I ain’t no fortunate one.

It ain’t me, it ain’t me;
I ain’t no fortunate one.
It ain’t me, it ain’t me;
I ain’t no fortunate son."
victor809 Offline
#11 Posted:
Joined: 10-14-2011
Posts: 23,866
Wow... I stand corrected. I just went and checked. Top 1% is in the 500k range. 5% is in the 200k range for the USA.

Anyone bothered looking at what the republicans identify as middle class range for "tax breaks"... I'm pretty sure they are targeting people earning up to 200k if I remember correctly.
deadeyedick Offline
#12 Posted:
Joined: 03-13-2003
Posts: 17,068
You are thinking of Cali instead of the avg US cost of living

https://www.cnbc.com/2017/06/12/how-much-you-have-to-earn-to-be-in-the-top-1-percent-in-every-us-state.html
delta1 Offline
#13 Posted:
Joined: 11-23-2011
Posts: 28,772
It varies widely from state to state, but the article says that in the US, the average income of the top 1% is $1.15 Million
delta1 Offline
#14 Posted:
Joined: 11-23-2011
Posts: 28,772
victor809 wrote:
Wow... I stand corrected. I just went and checked. Top 1% is in the 500k range. 5% is in the 200k range for the USA.

Anyone bothered looking at what the republicans identify as middle class range for "tax breaks"... I'm pretty sure they are targeting people earning up to 200k if I remember correctly.



the House plan and the Senate plan are slightly different...200K is a ballpark figure for individual tax-payers at highest income level who will get a lower tax rate.


https://www.thebalance.com/trump-s-tax-plan-how-it-affects-you-4113968
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