Wednesday , 11 December 2019

Minimum Income Required To Be In the Top 50%, Top 10%, Top 1%, Etc.

…[The]…visualization [below] charts the minimum income needed for each income percentile, from the top 50% to the top 0.001%.

  • 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.

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

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

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

Editor’s Note: The above excerpts are from the original article by HowMuch.net, a financial literacy websiteand 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.)

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