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) 5,275 Views

Automatically receive the internet’s most informative articles bi-weekly via our free bi-weekly Market Intelligence Report newsletter (sample here). Register in the top right hand corner of this page.

…[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

Related Articles From the munKNEE.com Vault

1. 10% of U.S. Households Earn +$154,100/year; 2% Earn +$360,400/yr. – Where Does Your Income Put YOU? (+4K Views)

How does your household income compare on a percentage basis to others in the U.S.? Are you in the top 2%, 10%, 50%? This calculator shows you exactly where.

2. Are You In the American Middle Class? – Find Out With Our Income Calculator

The share of adults who are middle class varies widely across U.S. metropolitan areas. Our newly updated calculator lets you find out which group you fit in, first compared with other adults in your metro area and among American adults overall, and then compared with other adults in the U.S. similar to you in education, age, race or ethnicity, and marital status. Are you in the American middle class?

3. Share Of Income Earned By Top 1% In U.S., Canada, U.K., Germany & Japan From 1975 to 2015

The U.S. is surprisingly low in disposable household income and rather high in income inequality. [In fact,] it is not too much of a stretch to say that the U.S. is now divided into two nations, not entirely separate but increasingly unequal.

4. Income Inequality By Country + 49 Other Informative World Views (+22K Views)

If you’re a visual learner then you know maps, charts and infographics can really help bring data and information to life. Maps can make a point resonate with readers and this collection aims to do just that.

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.

Scroll to very bottom of page & add your comments on this article. We want to share what you have to say!

*(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.)