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

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onehandle Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 12:50 PM
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Most Americans Say $150,000 Annual Income Makes You Rich (also, Walmart heirs $= Bottom 30%)
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Edited on Fri Dec-09-11 12:59 PM 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:

Americans need to be educated on this.


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.
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