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Old 02-20-2012, 04:49 PM
 
Location: TW
255 posts, read 386,938 times
Reputation: 230

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Quote:
Originally Posted by Supermac34 View Post
No, but the tens of thousands of people who Contract with the government can be. It only takes something like $300K a year to be "One Percent". Plenty of contractors and consultants make that with the government.
Exactly. A guy I went to BC with works with a few who went to Georgetown, Duke,Virgina. Really good schools. Alot of eggheads in DC. They don't all work for the government,but as you said...... with contractors or consultants of some sort.
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Old 02-20-2012, 04:53 PM
 
1,290 posts, read 4,835,669 times
Reputation: 717
Quote:
Originally Posted by 14Bricks View Post
According to the article they are only counting people with a net worth of at least 30 million. 300k is way more than what I make, but I wouldn't consider myself wealthy or the 1% on a 300k salary. Also shouldn't San Jose be on this list, Silicon Valley is closer to San Jose than it is San Francisco.
Well, the article may mention $30million, but most of the 99%er propaganda is usually talking about top 1% in income...which is something like $327,000+ for households.

Even the President counts "rich" as making $250,000 a year, not what you have in the bank.

Even with all that being said, Washington DC has a HUGE amount of rich people, even with the $30 million qualifier. People who own the companies that contract with the government, and the entire society of "old money" that has gathered around our nation's capital. The money goes where the power is.
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Old 02-20-2012, 09:51 PM
 
Location: Katy TX
1,066 posts, read 1,982,681 times
Reputation: 2156
Wealth is measured by assets. The debates revolving around this thread are silly.
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Old 02-20-2012, 10:24 PM
 
120 posts, read 155,177 times
Reputation: 285
Not sure where they got that $30 million number. They need to take the top 1% out of the article entirely if they are going to use the $30 million number. That is more like the top 0.01%

The top 1% is a little over $300,000/yr. Now if you make $300,000 for 30 years of working life, then you should have at least $10 million in the bank when you retire if you know what you're doing.
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Old 02-20-2012, 10:28 PM
 
4,338 posts, read 6,387,047 times
Reputation: 1636
Which zip is that in Houston? 77019 River Oaks?
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Old 02-21-2012, 07:24 AM
 
Location: Houston, Tx
8,260 posts, read 9,213,313 times
Reputation: 8198
Quote:
Originally Posted by deckhanddavy View Post
Wealth is measured by assets. The debates revolving around this thread are silly.
Feel free to remove yourself form the discusssion.
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Old 02-21-2012, 09:45 AM
 
1,290 posts, read 4,835,669 times
Reputation: 717
Quote:
Originally Posted by deckhanddavy View Post
Wealth is measured by assets. The debates revolving around this thread are silly.
I completely agree with you that wealth should be measured by assets. The problem is that the US government and most Occupy protesters completely disagree. Almost all measurements of wealth by those groups is completely based upon income, not assets.
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Old 02-21-2012, 10:13 AM
 
1,822 posts, read 1,269,926 times
Reputation: 2084
Quote:
Originally Posted by Supermac34 View Post
It only takes something like $300K a year to be "One Percent".
Only $300K? Gee Wally, that's pocket change!

I didn't realize the Mitt Romney-types post comments on this site
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Old 02-21-2012, 10:18 AM
 
Location: Houston (Bellaire)
285 posts, read 465,567 times
Reputation: 516
Quote:
Originally Posted by Supermac34 View Post
It only takes something like $300K a year to be "One Percent".
It's actually around $430k for a household in greater Houston.

What Percent Are You? - Interactive Feature - NYTimes.com
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Old 02-21-2012, 11:21 AM
 
Location: Houston/Brenham
3,569 posts, read 4,197,431 times
Reputation: 6191
Quote:
Originally Posted by 14Bricks View Post
According to the article they are only counting people with a net worth of at least 30 million.
Quote:
Originally Posted by houstonlibrarian View Post
Not sure where they got that $30 million number. They need to take the top 1% out of the article entirely if they are going to use the $30 million number. That is more like the top 0.01%.
The article said 30 million is about .5%. I don't know where you got your .01% number. I would guess 10-15 million or so would be 1%, but I have no data to back that up.

This is wealth, not income.
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