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What It Means To Be The Top 1%

Top 10 list of wealthiest countries by their percentages of total global personal wealth & top 1% income threshold for these countries, where available:

  1. US: 41.6%; $428,712 (2013, IRS)
  2. China: 10.5%; $91,639 (2012, WSJ)
  3. Japan: 8.9%; $240,000 (2012, Sadoff Investment Research)
  4. UK: 5.6%; $406,000 (2012, Office for National Statistics)
  5. Germany: 3.9%
  6. France: 3.5%
  7. Canada: 3.0%; $366,717 (2010, StatsCan)
  8. Italy: 2.9%
  9. Australia: 2.0%; $400,000 (2013, University of Melbourne)
  10. South Korea: 1.6%; $108,000 (2014, Korea Labor Institute)

Top 1% of US: What Jobs Do They Have (2005 Data – Williams College Research, 2012)?

  1. Executives, Managers, Supervisors (Non-Finance): 31%
  2. Medical: 15.7%
  3. Financial Professions, Including Management: 13.9%
  4. Lawyers: 8.4%
  5. Computer, Math, Engineering, Technical: 4.6%
  6. Not Working: 4.3%
  7. Skilled Sales: 4.2%
  8. Blue Collar or Misc.: 3.8%
  9. Real Estate: 3.2%
  10. Business Operations: 3%

Further Reading: New York Times: Top 1% Jobs Diagram

Economic Policy Institute Research:

  • Average annual income of the top 1% in the US: $1,153,293
    • Average income of 99% in the US: $45,567 (Top 1% earn 25.3x more than 99%)
  • Top 1% takes 20.1% of all US income

unequal-states

  • According to Almanac of American Philosophy, top 1% of US make over 1/3 of all donations made; wealthiest 1.4% of Americans are responsible for 86% of charitable donations made at death

Annual household income required to be in top 1% in 13 major US cities:

  1. New York City: $608,584
  2. San Francisco: $558,046
  3. Boston: $529,343
  4. Washington DC: $513,000
  5. Chicago: $479,844
  6. Los Angeles: $466,895
  7. Baltimore: $433,473
  8. San Diego: $428,000
  9. Dallas: $425,060
  10. Philadelphia: $424,552
  11. Houston: $423,345
  12. Seattle: $408,153
  13. Charlotte: $383,846

carlsbergImage Source: It Made Me Smile

World’s Happiest Countries 2013-2015 (World Economic Forum, 2016):

  1. Denmark
  2. Switzerland
  3. Iceland
  4. Norway
  5. Finland
  6. Canada
  7. Netherlands
  8. New Zealand
  9. Australia
  10. Sweden
  11. Israel
  12. Austria
  13. US
  14. Costa Rica
  15. Puerto Rico

“America IS the 1%: You need just $34,000 annual income to be in the global elite… and HALF the world’s richest people live in the US… Global median salary is $1,225” – Daily Mail 

Image Source: aastock via Shutterstock
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