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Forget the top 1% — Look at the top 0.1%
Posted By Barry Ritholtz On October 24, 2011 @ 2:30 pm In Economy,Wages & Income | Comments Disabled
Just today, I overheard someone say that income inequality must not be that bad, because you only need a few $100,000 to be in the 99th percentile (see CNN/Money ) — that works out to be about $343k to make the top 1%.
That is factually accurate, but misses the full wealth disparity issue. To see where the big bucks are, you need to look into the top 0.5%, 0.1%, 0.01% and lastly, and lastly, the top 0.001%.
Top 1% = $368,238 (20.9% of income)
Top 0.5% = $558,726 (16.8% of income)
Top 0.1% = $1,695,136 (10.3% of income)
Top 0.01% = $9,141,190 (5% of income)
click for larger chart
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2011/10/forget-the-top-1-look-at-the-top-0-1/
URLs in this post:
 CNN/Money: http://money.cnn.com/2011/10/20/news/economy/occupy_wall_street_income/index.htm?iid=HP_Highlight
 presentation here: http://www.ritholtz.com/blog/2011/10/mulbrandon-visualizing-economics-tbp-conference/
 video here: http://fora.tv/2011/10/11/Catherine_Mulbrandon_Illustrated_Guide_to_Income_in_US#The_One_Percent_Breaking_Down_US_Wealth_Distribution
 Image: http://www.ritholtz.com/blog/wp-content/uploads/2011/10/Distribution.png
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