1%
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1% (by Ken [NY]) Sep 15, 2020 1:33 PM
       1% (by myob [GA]) Sep 15, 2020 2:10 PM
       1% (by MikeA [TX]) Sep 15, 2020 3:21 PM
       1% (by Deanna [TX]) Sep 15, 2020 3:52 PM
       1% (by plenty [MO]) Sep 15, 2020 4:47 PM
       1% (by pmh [TX]) Sep 15, 2020 5:07 PM
       1% (by Jason [MI]) Sep 15, 2020 5:11 PM
       1% (by JR [ME]) Sep 15, 2020 5:55 PM
       1% (by JR [ME]) Sep 15, 2020 6:10 PM
       1% (by Small potatoes [NY]) Sep 15, 2020 8:01 PM
       1% (by Small potatoes [NY]) Sep 15, 2020 8:01 PM
       1% (by Oregon Woodsmoke [ID]) Sep 15, 2020 8:04 PM
       1% (by PG [SC]) Sep 15, 2020 9:09 PM
       1% (by Robert J [CA]) Sep 15, 2020 10:08 PM
       1% (by Patrick [VA]) Sep 16, 2020 7:29 AM
       1% (by Bill [KY]) Sep 16, 2020 7:41 AM
       1% (by Landlord ofthe Flies [TX]) Sep 16, 2020 3:07 PM
       1% (by J [FL]) Sep 16, 2020 5:33 PM
       1% (by Pmh [TX]) Sep 19, 2020 1:40 PM
       1% (by WMH [NC]) Sep 19, 2020 3:29 PM
       1% (by Deanna [TX]) Sep 19, 2020 7:12 PM
       1% (by Ray-N-Pa [PA]) Sep 20, 2020 12:49 PM
       1% (by Pmh [TX]) Sep 21, 2020 5:52 PM

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1% (by Ken [NY]) Posted on: Sep 15, 2020 1:33 PM
Message:

In an earlier post JR mentioned the 1%. What does it actually take to be in the top 1% income and asset wise? also the top 80%-99% ? --104.229.xxx.xxx




1% (by myob [GA]) Posted on: Sep 15, 2020 2:10 PM
Message:

I for one say the 1% er's are not to be adjusted for. When you have people (Bezo) approaching the Trillion in wealth a mere 1% is nothing.

Try quarter of one percenter's-- even that number in just the USA with 350,000,000 will be a huge number. China has 3 billion but only one tenth of one percent have real money-- and only 10,000 have the RED power. The rest are slaves.

Folks even with what we all have here, thinking of people on this site, we are trailer trash to billionaires. --99.103.xxx.xxx




1% (by MikeA [TX]) Posted on: Sep 15, 2020 3:21 PM
Message:

Net worth I found this:

The minimum net worth of the top 1% was roughly $10.4 million, according to Forbes. The top 10%, on the other hand, has a net worth of about $1.2 million.

As far as income USA today had this:

Tax units Ė which are either individuals or couples filing jointly Ė earning $421,347 or more rank among the top 1% of incomes in the United States.

Those two numbers seem off to me. $10.4M generating an income of $421K is only a 4% return. Surely they can do better than a 4% return on investment. --64.130.xx.xxx




1% (by Deanna [TX]) Posted on: Sep 15, 2020 3:52 PM
Message:

It varies based on location. If you're talking locally, the median household income in my zipcode is $50k. The median household income in Beverly Hills is $140k/year. So being part of the 1% in Beverly Hills is a very different animal from being part of the 1% in rural-nowhere-TX.

If you wanted to pull back and look at things nationally, you can.

And then if you wanted to pull back and look at things globally, you can do that, too.

And if you wanted to pull wayyyyy back and look at things historically, you can definitely do that, and realize pretty much everyone with a normal middle-class lifestyle in the modern era lives like kings. :P

www.bloomberg.com/news/features/2020-02-07/how-to-be-in-the-richest-1-around-the-world

So, in the UAE, to be part of the UAE's 1%, you need to have an annual pretax income of over $900k/year.

If you want to be part of China's 1%, you have to have an annual pretax income of about $100k/year.

If you want to be part of Canada's 1%, you have to have an annual pretax income of about $200k/year.

If you want to be part of India's 1%, you need to have an annual pretax income of about $75k/year.

And if you want to be part of the US's 1%, you need an annual pretax income of a bit less than $500k/year.

But then there's also the difference between "net worth" (the difference between assets vs liabilities) vs the liquidity you possess in contrast to the value of your fixed assets.

So, if I have 10 houses that are worth $200k each, and no debt, and no money in the bank, then I have a net worth of $2M... but I'm going to have trouble buying groceries.

So I think it's important to be grateful for the period in which we live-- in which we all get to live better than kings-- but also not get too wrapped up in comparing ourselves to someone else's success, because no matter how big you get, there's always going to be a bigger dog somewhere else... --137.118.xx.xxx




1% (by plenty [MO]) Posted on: Sep 15, 2020 4:47 PM
Message:

Something to strive for... for now I settle for lunch. sigh, --99.203.xx.xxx




1% (by pmh [TX]) Posted on: Sep 15, 2020 5:07 PM
Message:

how does that saying go: if I have to ask the price then I canít afford it...if I have to ask what the 1% is then Iím not in it...lol. just joshing Ken.. --107.77.xxx.xxx




1% (by Jason [MI]) Posted on: Sep 15, 2020 5:11 PM
Message:

I think you need to compare apples to apples. I am 43 an just read an article possibly business week? It broke down top 10 % net worth for age groups an top 1 %. For my age group was like 35 to 45 an top 1% have a net worth of like 470k. Which i thought was crazy low. I cant compare my net worth to a 80 year old. Christ he would have 40 years on. Not that i compare myself, i just keep pluging along....but i do like seeing my hard work has me in top 1% for there highest age group --107.88.xxx.xx




1% (by JR [ME]) Posted on: Sep 15, 2020 5:55 PM
Message:

From the DQYDJ dot com website. Google net worth calculator and income percentile calculator.

The top 1 % for household income is $450,000 per year and for household net worth, you need a little over $10,000,000.

To break into the 80th percentile, you need a much more modest income of $82,000 or $500,000 for net worth. --98.13.xx.xxx




1% (by JR [ME]) Posted on: Sep 15, 2020 6:10 PM
Message:

Sorry, for household income, $130,000 is the 80th percentile. $82,000 is the individual 80%ile figure --98.13.xx.xxx




1% (by Small potatoes [NY]) Posted on: Sep 15, 2020 8:01 PM
Message:

Ken this occupy wall st quote prolly the standard reference that coined the phrase. It takes into account net worth as the top don't 'earn' much in wages followed by bernie sanders mantra

OCCUPY WALL ST

The phrase directly refers to the income and wealth inequality in the United States with a concentration of wealth among the top earning 1%. It reflects an opinion that the "99%" are paying the price for the mistakes of a tiny minority within the upper class. As of 2009, all households with incomes less than $343,927 belonged to the lower 99% of the wage earners. However the 1% is not necessarily a reference to top 1% of wage earners, it is a reference to the top 1% net worth individuals of which earned wages are only one of many contributing factors.[1]

SANDERS

TRUTH-O-METER

Bernie Sanders

stated on September 14, 2015 in a speech.:

"The top 1/10th of 1 percent today in America owns almost as much wealth as the bottom 90 percent."

truemostly-true

ECONOMY INCOME RETIREMENT SOCIAL SECURITY WEALTH VIRGINIA BERNIE SANDERS

Sen. Bernie Sanders portrayed income inequality as a moral issue during his Sept. 14 appearance at Liberty University.

Sen. Bernie Sanders portrayed income inequality as a moral issue during his Sept. 14 appearance at Liberty University.

By Sean Gorman

September 21, 2015

Tom Kertscher

By Tom Kertscher

September 21, 2015

Bernie Sanders says top 0.1% in U.S. have almost as much wealth as bottom 90%

Democratic presidential candidate Bernie Sanders told Liberty University students on Sept. 14 that he didnít expect them to agree with his liberal views on abortion and gay marriage.

But Sanders, a U.S. senator from Vermont, sought common ground with students at the conservative Christian university in Lynchburg by casting wealth inequality as a moral issue.

"There is no justice, and I want you to hear this clearly, when the top 1/10th of 1 percent -- not 1 percent -- the top 1/10th of 1 percent today in America owns almost as much wealth as the bottom 90 percent," Sanders told the crowd, packed into the Vines Center arena for weekly convocation. "And in your hearts, you will have to determine the morality of that, and the justice of that."

We decided to examine Sandersí statement that the richest 0.1 percent has nearly as much as the bottom 90 percent. Itís a standard line in Sandersí speeches. Warren Gunnels, policy director of Sandersí presidential campaign, said the senatorís source for the statistic is a Nov. 13, 2014, article in The Guardian, a British newspaper.

As our colleagues at PolitiFact Wisconsin have written, the article reported on the findings of a research paper, about wealth inequality during the past 100 years. The study was commissioned by the National Bureau of Economic Research, a nonpartisan organization in Cambridge, Mass., which is best known as the arbiter for determining when the U.S. economy falls into recession.

The authors of the study were economists Emmanuel Saez of the University of California, Berkeley, and Gabriel Zucman of the London School of Economics. Using tax records, they made estimates for 2012 on wealth -- that is, the value of all assets, such as a home, and savings and retirement accounts, minus all debts, such as mortgages and credit card balances.

The top 0.1 percent included 160,000 families with net assets of at least $20 million. Meanwhile, the bottom 90 percent encompassed 144 million families with average wealth of $84,000 --99.203.x.xx




1% (by Small potatoes [NY]) Posted on: Sep 15, 2020 8:01 PM
Message:

Ken this occupy wall st quote prolly the standard reference that coined the phrase. It takes into account net worth as the top don't 'earn' much in wages followed by bernie sanders mantra

OCCUPY WALL ST

The phrase directly refers to the income and wealth inequality in the United States with a concentration of wealth among the top earning 1%. It reflects an opinion that the "99%" are paying the price for the mistakes of a tiny minority within the upper class. As of 2009, all households with incomes less than $343,927 belonged to the lower 99% of the wage earners. However the 1% is not necessarily a reference to top 1% of wage earners, it is a reference to the top 1% net worth individuals of which earned wages are only one of many contributing factors.[1]

SANDERS

TRUTH-O-METER

Bernie Sanders

stated on September 14, 2015 in a speech.:

"The top 1/10th of 1 percent today in America owns almost as much wealth as the bottom 90 percent."

truemostly-true

ECONOMY INCOME RETIREMENT SOCIAL SECURITY WEALTH VIRGINIA BERNIE SANDERS

Sen. Bernie Sanders portrayed income inequality as a moral issue during his Sept. 14 appearance at Liberty University.

Sen. Bernie Sanders portrayed income inequality as a moral issue during his Sept. 14 appearance at Liberty University.

By Sean Gorman

September 21, 2015

Tom Kertscher

By Tom Kertscher

September 21, 2015

Bernie Sanders says top 0.1% in U.S. have almost as much wealth as bottom 90%

Democratic presidential candidate Bernie Sanders told Liberty University students on Sept. 14 that he didnít expect them to agree with his liberal views on abortion and gay marriage.

But Sanders, a U.S. senator from Vermont, sought common ground with students at the conservative Christian university in Lynchburg by casting wealth inequality as a moral issue.

"There is no justice, and I want you to hear this clearly, when the top 1/10th of 1 percent -- not 1 percent -- the top 1/10th of 1 percent today in America owns almost as much wealth as the bottom 90 percent," Sanders told the crowd, packed into the Vines Center arena for weekly convocation. "And in your hearts, you will have to determine the morality of that, and the justice of that."

We decided to examine Sandersí statement that the richest 0.1 percent has nearly as much as the bottom 90 percent. Itís a standard line in Sandersí speeches. Warren Gunnels, policy director of Sandersí presidential campaign, said the senatorís source for the statistic is a Nov. 13, 2014, article in The Guardian, a British newspaper.

As our colleagues at PolitiFact Wisconsin have written, the article reported on the findings of a research paper, about wealth inequality during the past 100 years. The study was commissioned by the National Bureau of Economic Research, a nonpartisan organization in Cambridge, Mass., which is best known as the arbiter for determining when the U.S. economy falls into recession.

The authors of the study were economists Emmanuel Saez of the University of California, Berkeley, and Gabriel Zucman of the London School of Economics. Using tax records, they made estimates for 2012 on wealth -- that is, the value of all assets, such as a home, and savings and retirement accounts, minus all debts, such as mortgages and credit card balances.

The top 0.1 percent included 160,000 families with net assets of at least $20 million. Meanwhile, the bottom 90 percent encompassed 144 million families with average wealth of $84,000 --99.203.x.xx




1% (by Oregon Woodsmoke [ID]) Posted on: Sep 15, 2020 8:04 PM
Message:

[[[[[[...... Folks even with what we all have here, thinking of people on this site, we are trailer trash to billionaires......]]]]]]

And I am perfectly happy with what I've got. It never occurred to me that the government should take away their wealth and give it to me. --76.178.xx.xx




1% (by PG [SC]) Posted on: Sep 15, 2020 9:09 PM
Message:

I would like to add a little humor, if you will, to this post and the doom and gloom of the Nostradamus post.

My mom who died recently grew up during the depression. She lived on a small farm in rural SC. She would say they had a good house - plenty to eat - her dad had a truck - all the family worked the farm. She and brothers and sisters would get treats from the General store sometime - they did not think of themselves as poor.

BUT that all changed when the lady from the Social Service came around and told them they were Poor.

Maybe a lot of this inequality is just a state of mind and something else my mom used to say about being poor it is not bad to be poor it is just a little inconvenient. --184.20.xxx.xx




1% (by Robert J [CA]) Posted on: Sep 15, 2020 10:08 PM
Message:

I remember back in the 1980's when the top 1% earned over $100,000 a year. I belonged to that club! Now a days with the internet, the dot.com craze and creator of video games -- their base income is $10M with a larger than life bonus.

--47.155.xx.xxx




1% (by Patrick [VA]) Posted on: Sep 16, 2020 7:29 AM
Message:

So I think it's important to be grateful for the period in which we live-- in which we all get to live better than kings-- but also not get too wrapped up in comparing ourselves to someone else's success, because no matter how big you get, there's always going to be a bigger dog somewhere else

Deanna [TX] Loved your post.

You have wisdom beyond your years! --108.39.xx.xx




1% (by Bill [KY]) Posted on: Sep 16, 2020 7:41 AM
Message:

Comparison is the thief of joy.

One of the many problems with envy is you can always find someone with more than you. The 1% is the enemy today. After Government confiscates a greater share of the wealth of the 1% and realizes itís not enough to support their fiscal recklessness, the mobís attention turns to the top 10% next, which will affect many on this board. Knowing how deceitful and inept government is, I canít for the life of me understand how anyone could cast a vote to a party that desires to take more of your ďwealth.Ē It makes zero sense.

This pay your fair share BS is exactly that. The top 10% of earners which pay 70% of the taxes should get a thank you card from the remaining 90% of society. If your in the top 10% of earners, thank you for being a great contributor to our society. I appreciate & applaud you.

--75.90.xxx.xx




1% (by Landlord ofthe Flies [TX]) Posted on: Sep 16, 2020 3:07 PM
Message:

Now that Bernie is a member of the 1% he's soften his stance on them. Now, instead of attacking Millionaires and Billionaires, he only attacks Billionaires. --108.69.xxx.xxx




1% (by J [FL]) Posted on: Sep 16, 2020 5:33 PM
Message:

According to the stats MikeA gave, Bernie isn't in the 1%. It says online he's only worth 2.5 million. --72.188.xxx.xxx




1% (by Pmh [TX]) Posted on: Sep 19, 2020 1:40 PM
Message:

I would like to not be in the 1% with 2.5m....... --72.180.xx.xxx




1% (by WMH [NC]) Posted on: Sep 19, 2020 3:29 PM
Message:

People don't pay attention to the fact that the Forbes Richest People list is very NON-static. Names come and go. Most of the people on it are first-generation wealth, self-made. They are the product of the so-called American Dream, and I say good for them. --50.82.xxx.xxx




1% (by Deanna [TX]) Posted on: Sep 19, 2020 7:12 PM
Message:

re: the Bernie Sanders bit--- that's actually really weird, considering CNBC said in 2019---

The independent senator from Vermont has enjoyed a recent windfall driven by book deals. In both 2016 and 2017, Sanders and his wife, Jane, had adjusted gross income of about $1.1 million, according to tax returns his 2020 presidential campaign released last month. The couple followed it up with about $560,000 in income last year.

The totals mark a stark increase from 2015, when they made roughly $240,000.

...

Book royalties

In 2018, Bernie Sanders reported more than $390,000 in book royalties.

He more than doubled the haul in both 2016 and 2017, taking in about $850,000 each year from books.

Jane Sanders added about another $106,000 in book income in 2017.

Senate salary

Sanders makes a $174,000 annual salary as a senator.

The coupleís returns list taxable wages at $130,000 to $140,000 from 2016 through 2018.

Assets and liabilities

The couple had assets valued at $472,000 to $1.3 million last year, according to a Senate financial disclosure form.

A chunk of it, worth $250,001 to $500,000, sits in bank accounts at the U.S. Senate Federal Credit Union.

Much of the wealth comes from mutual funds and annuities held by Jane Sanders.

They list one liability: a mortgage estimated at $250,001 to $500,000. Sanders has three homes: He most recently sparked criticism when he bought a $575,000 summer house on Lake Champlain in Vermont. It is unclear which house has a mortgage.

---So, all that, a wife who was a university president for seven years, you were the mayor of your state's biggest city for nine years, in the US House for 16 years, you've been in the US Senate for 12 years, you were born before Pearl Harbor, only one mortgage in the debt column, and still only a net worth of $2.5M?

Either someone is very, very bad at this, or someone is very, very good at this. :P --137.118.xx.xxx




1% (by Ray-N-Pa [PA]) Posted on: Sep 20, 2020 12:49 PM
Message:

My single wide is on the right side of the tracks --24.101.xxx.xx




1% (by Pmh [TX]) Posted on: Sep 21, 2020 5:52 PM
Message:

Deanna: the rest of us can learn (a lot) from the champagne socialist / limo liberal. WE have it wrong. wish I knew this b4 I worked 3 jobs a week to pay my way through law school...lol. --72.180.xx.xxx



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