You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Most Americans Say $150,000 Annual Income Makes You Rich (also, Walmart heirs $= Bottom 30%) [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
onehandle Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:50 AM
Original message
Most Americans Say $150,000 Annual Income Makes You Rich (also, Walmart heirs $= Bottom 30%)
Advertisements [?]
Edited on Fri Dec-09-11 11:59 AM by onehandle
Source: Huffington Post

It's not only one percenters that Americans consider rich.

More than half of those recently polled by Gallup said an income of no more than $150,000 would qualify that person as rich. When asked how much money per year would be necessary for them to consider themselves "rich," 53 percent mentioned an income of $150,000 or less, and 71 percent said an income of $300,000 would be enough.

Wealth marketing HNW Inc. considers an income of more than $350,000 per year enough to push someone into the one percent. But they also say most one percenters aren't aware of their exceptional status.

That may be because of extreme levels of income inequality among the richest of Americans. Steeper inequality exists among those in the top tenth of the income scale than elsewhere in the income spectrum, leading to a comparative sense of poorness for many wealthy Americans, according to an analysis by the Tax Policy Center cited by The New York Times.

Read more: http://www.huffingtonpost.com/2011/12/08/rich-median-in...



Americans need to be educated on this.

Here:

Walmart Heirs Worth Same Amount As Bottom 30 Percent Of Americans In 2007: Analysis

The Occupy Wall Street movement has brought increased focus on the disparity between the top one percent of earners and everyone else in the United States. But one American family paints a particularly stark picture of the country's wealth gap.

The six children of Walmart's founders, Sam and James "Bud" Walton, had the same net worth in 2007 as the entire bottom 30 percent of American earners, according to an analysis from Sylvia Allegretto, a labor economist at University of California-Berkeley's Center on Wage and Employment Dynamics.

Though the 2007 figure is striking, the gap between the Walmart heirs and the rest of the country may get even bigger -- the Walton's combined fortune has grown by more than $20 billion, according to data compiled from the Forbes 400 this year.

Allegretto compared the Waltons' net worth in 2007, according to Forbes magazine, to the Federal Reserve's 2007 Survey of Consumer Finances.

http://www.huffingtonpost.com/2011/12/08/walmart-heirs_...
Refresh | +31 Recommendations Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC