Please don’t forget this is income and the average house with $350k annual income isn’t sniffing the jocks of the wealthiest. They are still working for a living.
GABE_EDD on
Why focus on the top 20%? Try the top 0.001%…
Objective_Run_7151 on
True.
Also true that the bottom 80% are far, far richer than they were in 1974.
Median American makes almost 58% more today than 1974.
The concentration of wealth is a problem, but it must be noted that everyone is richer.
Breaking this down into 20% groups doesn’t tell the full story. If you have a national median income, you have a LOT more in common with the average of the „upper class“ that earns $315k per year, than they have in common with the top 0.01% or even the top 1%.
Graphs like this are honestly really dangerous. People in the lower-middle or middle-class groups here can aspire to one day be in the upper class if they work hard, invest well, start a business, etc. Politicians WANT you to see this and think „I might be up there one day, we shouldn’t tax that group harder because I wouldn’t want my future hard work to be penalized.“ But what this graph deliberately hides, is that the top 1% or less make up a HUGE portion of that upper class, and they make a stupid amount that even the smartest, hardest-working, luckiest of us could NEVER hope to achieve.
Tax the rich.
throwaway133379001 on
An annoying visualization. If you’re gonna do quintiles, why not go further? Especially because it’s well established that the difference between tge top 20% and top 1% is non-linear.
Also, not being able to know the cutoff tweaked me.
_disjecta_ on
“earn” is doing a lot of semantic work there. (“The top 20% earn more income than the rest of the population combined.”)
offurocker on
The upper 20% has to be in only a few locations that are VHCOL and population dense. Who else outside of NY, LA, etc. is making household income of $300k+
Intelligent_Royal_57 on
Wait. Am I reading this they are saying a $314K household income is top 20%? No way. That is like top 6-8%.
2 out of 10 American Households to not make $314K + per year.
Jonsotheraccount79 on
$316,000 is only top 20%??? That doesn’t match other statistics I’ve seen.
tripping_on_phonics on
Wealth is a far better measure of economic inequality than income, and the disparity between the socioeconomic elite and the working class has grown astonishingly. $47 trillion from 1975 to 2018.
17 Kommentare
Please don’t forget this is income and the average house with $350k annual income isn’t sniffing the jocks of the wealthiest. They are still working for a living.
Why focus on the top 20%? Try the top 0.001%…
True.
Also true that the bottom 80% are far, far richer than they were in 1974.
Median American makes almost 58% more today than 1974.
The concentration of wealth is a problem, but it must be noted that everyone is richer.
[https://fred.stlouisfed.org/series/MEPAINUSA672N](https://fred.stlouisfed.org/series/MEPAINUSA672N)
Breaking this down into 20% groups doesn’t tell the full story. If you have a national median income, you have a LOT more in common with the average of the „upper class“ that earns $315k per year, than they have in common with the top 0.01% or even the top 1%.
Graphs like this are honestly really dangerous. People in the lower-middle or middle-class groups here can aspire to one day be in the upper class if they work hard, invest well, start a business, etc. Politicians WANT you to see this and think „I might be up there one day, we shouldn’t tax that group harder because I wouldn’t want my future hard work to be penalized.“ But what this graph deliberately hides, is that the top 1% or less make up a HUGE portion of that upper class, and they make a stupid amount that even the smartest, hardest-working, luckiest of us could NEVER hope to achieve.
Tax the rich.
An annoying visualization. If you’re gonna do quintiles, why not go further? Especially because it’s well established that the difference between tge top 20% and top 1% is non-linear.
Also, not being able to know the cutoff tweaked me.
“earn” is doing a lot of semantic work there. (“The top 20% earn more income than the rest of the population combined.”)
The upper 20% has to be in only a few locations that are VHCOL and population dense. Who else outside of NY, LA, etc. is making household income of $300k+
Wait. Am I reading this they are saying a $314K household income is top 20%? No way. That is like top 6-8%.
2 out of 10 American Households to not make $314K + per year.
$316,000 is only top 20%??? That doesn’t match other statistics I’ve seen.
Wealth is a far better measure of economic inequality than income, and the disparity between the socioeconomic elite and the working class has grown astonishingly. $47 trillion from 1975 to 2018.
https://www.rand.org/pubs/research_briefs/RBA516-1.html
This figure was updated to $79 trillion for the years 1975 to 2023, meaning that the rate of increase in wealth inequality is rapidly increasing.
Yes that’s how the math works…
This is far from beautiful to me.
There’s no way 130K for a household is upper middle class.
wtf….our household is doing 160k and constantly fighting off overdraft fees.
This graphic and data are ugly.
The graph you provided is terrible.
Here’s a better visualization.
https://preview.redd.it/m5mf3cbcppdh1.png?width=1164&format=png&auto=webp&s=e6ff799b1720ecee64f173d260e4a0e946b6ad51
[https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#range:2011.1,2026.1;quarter:146;series:Net%20worth;demographic:networth;population:all;units:levels](https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#range:2011.1,2026.1;quarter:146;series:Net%20worth;demographic:networth;population:all;units:levels)
Also, the middle class is shrinking but that’s because the upper middle class has increased dramatically the past couple of decades.
[https://www.aei.org/research-products/report/the-middle-class-is-shrinking-because-of-a-booming-upper-middle-class/](https://www.aei.org/research-products/report/the-middle-class-is-shrinking-because-of-a-booming-upper-middle-class/)
They also pay in taxes more than bottom 80%.