Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The top One Percent in America earns at least $480,930 per year, according to recently released IRS data that compiled earnings/taxes paid from 2015. While that One Percent of Americans makes about 20% of all dollars earned in America, they pay 39% of all taxes paid to the American government.
Richest 1% of Americans Close to Surpassing Wealth of Middle Class
Bloomberg
The U.S.’s historic economic expansion has so enriched one-percenters they now hold almost as much wealth as the middle- and upper-middle classes combined.
The top 1% of American households have enjoyed huge returns in the stock market in the past decade, to the point that they now control more than half of the equity in U.S. public and private companies, according to data from the Federal Reserve. Those fat portfolios have America’s elite gobbling up an ever-bigger piece of the pie.
_____________________________________________
So how does the top 1% hold almost as much wealth as the middle- and upper-middle classes combined yet only make about 20% of all dollars earned in America ?
What do they mean by "dollars earned"? Wages? Annuities? Are they referring to the people in the 1% who are in the labor force?
Income is earned by some form of labor, even the most passive management position.
Money from investments etc. is generally considered "unearned" — not as in that it's undeserved, but in that no specific effort was made to acquire it.
Clear this up for me about the top 1% of wealth in America
anyway , this is the question
How does the top 1% of American households hold almost as much wealth as the middle- and upper-middle classes combined yet only make about 20% of all dollars earned in America ?
OP, do you understand the difference between wealth and income? There are a large number of people with small income and high assets, and there are also a large number of people with high income and low assets.
Bingo! He is assuming income is proportional to wealth.
One can own 10 multimillion dollar homes but if they are not being rented the wealth is not producing any income.
Quote:
Originally Posted by turf3
OP, do you understand the difference between wealth and income? There are a large number of people with small income and high assets, and there are also a large number of people with high income and low assets.
Bingo! He is assuming income is proportional to wealth.
One can own 10 multimillion dollar homes but if they are not being rented the wealth is not producing any income.
Well, because the equity is rising faster than any market investment.
But yes, the takeaway here, fairly well established for at least fifteen minutes, is that income and wealth are not the same thing.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
