- January 17, 2012
Last Friday’s we posted an interactive visualization from Column Five Media and Mint.com about how much money it takes to be considered “rich”. Individual answers spanned from under $60,000 to over $1,000,000,000 per year, which is unsurprising given the massive gap between the very rich and everyone else.
According to a recent New York Times article, “the range of wealth in the 1 percent is vast — from households that bring in $380,000 a year, according to census data, up to billionaires like Warren E. Buffett and Bill Gates.” Perhaps this warrants the question of whether it’s really the 99% vs. the 1% or the 99.999% vs. the 0.001%?
It may also beg the question of where one really sits in the wealth spectrum. For example, even though an annual household income of $52,000 sits firmly in the 99%, it’s fascinating to see that that salary puts you in the bottom 50% of places like New York, New Jersey, St. Louis and LA, but in Flint, Michigan, you’d be in the top 28%.
And a mere $180,000/year puts you in the top 1% in Flint, Michigan while leaving you only in the top 10% of your peers in New York/New Jersey. So, if your life aspirations include being amongst the elite rich in your community, you may want to consider moving to Michael Moore’s hometown.