Income Distribution May Be Worse Than You Imagine

If you think the income gap in America is being exaggerated or that there just couldn't be that many people in or hovering around the poverty line take a look at these conclusions (from this Huffpost story):

• If you make more than $10,000, you earn more than 24.2% of Americans, or 37 million people.
• If you make more than $15,000 (roughly the annual salary of a minimum-wage employee working 40 hours per week), you earn more than 32.2% of Americans.
• If you make more than $30,000, you earn more than 53.2% of Americans.
• If you make more than $50,000, you earn more than 73.4% of Americans.
• If you make more than $100,000, you earn more than 92.6% of Americans.
• You are officially in the top 1% of American wage earners if you earn more than $250,000.
• The 894 people that earn more than $20 million make more than 99.99989% of Americans, and are compensated a cumulative $37,009,979,568 per year.

The story has an excellent chart with it.

(Graphic: stocksonwallstreet.net)