Monday, January 16, 2012

How much do the top 1% get?


Source: Congressional Budget Office, Average Federal Taxes by Income Group, “Average After-Tax Household Income,” June, 2010. (This graph found at http://inequality.org/income-inequality/)


Today's New York Times article on inequality has numbers much lower than Mother Jones or Inequality.org.

NY Times says family income of $338,001 puts a family in top 1%.

Mother Jones and Inequality.org put the top 1% at well over a $1,000,000 average annual family income. The CBO agrees with Mother Jones and Inequality.org.

Maybe the NYTimes only counts earned income? Many of the Superrich receive little income but live off inheritance and investment income.

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16 Comments:

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One line in the NY Times article suggested to me that their numbers were earned income.

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