The top 1% of the US makes $480k or more in adjusted gross income

Post by rlabrecque » Thu, Feb 22, 2018, 11:15 PM UTC

shiftpgdn wrote: post #7

refurb wrote: post #5

Is this household or individual? I only see "tax return" mentioned, so it could be a mix of both. A common Silicon Valley working couple, 10+ years into their careers are likely to be in the 1% if you roll in things like bonuses and stock/option grants. And at the same time you have people claiming to be middle class with incomes over $250K.

You don't feel a 250K annual salary is middle class? That is a king's ransom in most of the country.

Post by mjmahone17 » Thu, Feb 22, 2018, 11:16 PM UTC

shiftpgdn wrote: post #7

refurb wrote: post #5

Is this household or individual? I only see "tax return" mentioned, so it could be a mix of both. A common Silicon Valley working couple, 10+ years into their careers are likely to be in the 1% if you roll in things like bonuses and stock/option grants. And at the same time you have people claiming to be middle class with incomes over $250K.

You don't feel a 250K annual salary is middle class? That is a king's ransom in most of the country.

Post by jpatokal » Thu, Feb 22, 2018, 11:19 PM UTC

nugget wrote: post #9

Consider four different people: 1. a lawyer who works 100 hours/week flirting with a heart attack and earns $480,930 2. a small business owner who sells their plumbing co after 4 decades and earns $480,930 from the sale, but never broke six figures before 3. a retiree who sits on the couch 24/7 and earns $480,930 in passive dividends 4. a professional of some kind who works 20 hours/week in a low stress job and earns…

Post by tanderson92 » Thu, Feb 22, 2018, 11:21 PM UTC

bob_theslob646 wrote: post #14

nugget wrote: post #9

Consider four different people: 1. a lawyer who works 100 hours/week flirting with a heart attack and earns $480,930 2. a small business owner who sells their plumbing co after 4 decades and earns $480,930 from the sale, but never broke six figures before 3. a retiree who sits on the couch 24/7 and earns $480,930 in passive dividends 4. a professional of some kind who works 20 hours/week in a low stress job and earns…

The funny thing about that is like the press, the IRS does not care about anything you said either

Post by celdon25 » Thu, Feb 22, 2018, 11:24 PM UTC

dannylandau wrote: post #16

jpatokal wrote: post #15

Earlier quoted context omitted.

Pray tell, what kind of low stress job lets you earn $500k/year with 20 hours/week? (Actual job, please, not "4-hour workweek" style passive investment income.)

Managing Director at Hedge Funds. They just show up to collect the money.