Minimum Income Required To Be In the Top 50%, Top 10%, Top 1%, Etc. (+4K Views)

Lorimer Wilson November 10, 2022 Comments Off on Minimum Income Required To Be In the Top 50%, Top 10%, Top 1%, Etc. (+4K Views) 5,415 Views

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…[The]…visualization [below] charts the minimum income needed for each income percentile, from the top 50% to the top 0.001%. @A Financial Site For Sore Eyes & Inquisitive Minds

Currently, the combined wealth of the 1% almost surpasses that of the combined wealth of middle-class Americans.
Even after accounting for inflation, the income needed to reach the top 1% of earners increased 7.2% between 2016 and 2017.
At the same time, the wealthy have the greatest tax burden. An analysis from Bloomberg shows that the top 1% earned 21% of the country’s income and paid 38.5% of federal income taxes. By contrast, the bottom 90% of earners paid 29.9% of federal income taxes. @Follow the munKNEE

How Much You Need to Earn For the Top Income Percentiles

1. Top 0.001%: $63,430,119
2. Top 0.01%: $12,899,070
3. Top 0.1%: $2,374,937

Percent of Total Income Earned by Top Income Percentiles

1. Top 0.001%: 2.34% of total income
2. Top 0.01%: 5.17% of total income
3. Top 0.1%: 10.52% of total income

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Editor’s Note: The above excerpts are from the original article by HowMuch.net, a financial literacy website, and have been re-formatted, color highlighted, edited ([ ])* and abridged (…) by Lorimer Wilson, editor of munKNEE.com – Your KEY To Making Money! – for the sake of clarity, and brevity to provide a fast and easy read.

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*(The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)