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Joined: Sep 2011
Posts: 18,003 Likes: 191
Moderator Carpal Tunnel
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Moderator Carpal Tunnel
Joined: Sep 2011
Posts: 18,003 Likes: 191 |
I found this information informative: If you and yours are bringing in $40,000 a year, you're doing better than half the households in America.
Or, as a Washington think tank recently pointed out: If you're a teacher married to a policeman, your combined household income puts you in the top 25 percent of all households in the nation.
Below you'll find the average income picture sliced into income levels. Think of this chart as a parking ramp. If your household income is $170,000, you're among the nation's top 10 percent wage earners and get to park on the top floor.
Anything in six figures means you're in the top 20 percent and get to park on the floor right below. Where Do You Stand on America's Wealth Spectrum? And of course, there is this: Of course, income is only one part of the equation defining where you stand. Net worth is more telling. Net worth, as every financially precocious schoolchild knows, is the sum of one's assets -- home equity, investments, savings accounts, retirement funds, cars, furnishings and such things as jewelry, furs, wine collection, old baseball cards -- minus all outstanding liabilities such as mortgage balance, revolving and credit card debt, college loans and so on. Across all households, the national median net worth is $86,000. Half of your fellow citizens have more than that, half less. As you see, there's a massive disparity between the haves and have-nots.
Net worth parking ramp Net worth (percentile) Median net worth (rounded) Level VI (90 to 100) $833,600 Level V (80 to 89.9) $263,100 Level IV (60 to 79.9) $141,500 Level III (40 to 59.9) $62,500 Level II (20 to 39.9) $37,200 Level I (less than 20) $7,900 Source: Family Net Worth, 2001 Federal Reserve Board Survey
We live in a country that once celebrated itself as egalitarian, yet 1 percent of the population -- nearly 3 million people -- currently has as much money as the 100 million people at the bottom of the ramp.
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.
Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich
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