Hacker News Reader

Comment by Retric | Hacker News Reader

More than you might think. 1 in 20 people make over 200k / year. 400k is not enough to get someone into the top 1%.

So, several million Americans are making 1/4 million + per year before taxes. Which is why millionaire does not really qualify someone as rich anymore. Consider 1 million in 1915 is the equivalent of ~25 million in 2017 which is closer to what most people think of as rich.

View on HN

Hm - well, according to this: http://graphics.wsj.com/what-percent/ 200k/year put you in the top 2% just a few years ago.

Slightly different measurement, on their graph 20% of people made less than 10k/year and they list and use: $27,000 was the rounded median individual income in 2014. But, they are not measuring people on a salary.

> But, they are not measuring people on a salary.

Well, you weren't either so it seems fair. "1 in 20 people make over 200k / year" -> As you probably meant full income earners it would be interesting to see what it would be if measured actually for "people".

People in the highest income brackets tend be working full time significantly more in large part because people near retirement get both dividends and a full time salary, but people in retirement are generally drawing down their wealth.

So, they may not be making 420k exclusively from their job, but 200+k / year is surprisingly common.

Other reports put 1% at >$400K/yr, 5% at $214K/yr https://www.google.com/search?q=1%25+income&cad=h

WSJ's number is individual not household, and ignores people making $0, most of home are likely in a household with an income-earner.

Reply on news.ycombinator.com