What is the income level of this wealthiest 1%?

[NewJeffCT]

I've heard a lot of talk about the wealthiest 1% of Americans since last year - Kerry proposing to roll back their tax cuts, etc. What exactly is the income level of the wealthiest 2.8 million or so Americans that make up this 1%.

I just need this info for a LTTE.

Thanks

[indepat]

1. Don't know the answer, but data on how much wealth/what percent of the

wealth this one percent owns/controls would provide an even fuller picture of the maldistribution of wealth that has been fostered during Repuke presidencies since 1981.

[Ravenseye]

2. I don't know about recently but I found this...

http://www.huppi.com/kangaroo/4Inequality.htm

top 5%.....187,400
top 1%.....463,800
All.........34,830

*on edit*
http://www.faireconomy.org/Taxes/HTMLReports/Shifty_Tax_Cuts.html

and this

"For fiscal years 2002-2004, state governments closed approximately $200 billion in budget gaps by raising taxes and fees and by cutting services. During those same years, newly enacted federal tax cuts delivered about as much money — $197.3 billion — in new tax breaks for the wealthiest 1% of Americans (households making more than $337,000 a year). Had that money instead been directed to state fiscal aid, it could have prevented virtually all recent tax hikes and service cuts at the state level, which fall hardest on low- and middle-income Americans."

[NewJeffCT]

4. thanks - but, it's 1990 data

hoping for something more recent.

[whistle]

3. Income is not the measure of wealth, net worth is what is considered

...as wealth. Net worth is all that you own minus all that you owe or as the accountants put it:

assets - liabilities = net worth

<snip>
The Richest People in America
10.06.03

Up from the ashes. After two years of declining values, the rich finally got richer. On this, FORBES' 21st annual edition of The Forbes 400, the aggregate net worth of the nation's wealthiest 400 citizens leapt 10% in the past year, to $955 billion--just one Bill Gates away from $1 trillion. Leading the charge: Internet stocks. Jeff Bezos added more than $3 billion to his net worth with a tripling of Amazon's share price. Chief Yahoos David Filo and Jerry Yang nearly tripled their wealth, while the fortunes of Ebay's Pierre Omidyar and Meg Whitman rose almost 50%. With help from a fin-challenged clown fish named Nemo, Steve Jobs moved up 44 places in our rankings to 78th. Financiers also fared well: Carl Icahn moved up $1.5 billion, a third of it stemming from his takeover of XO Communications. Investor Bruce Kovner made $500 million betting on the bond and currency markets. Other fortunes were not so fortunate. A rising price of admission--$600 million--pushed 20 members off the list, including wrestling's Vince McMahon and Global Crossing's Gary Winnick. Their places were filled by newcomers like hedge fund managers Steve Cohen and Ken Griffin, both of whom would prefer we keep them out of our club. Their lack of enthusiasm is more than made up for by oil tycoon Patrick Taylor, who is proudly using his $700 million to send hundreds of kids to college.

<more>
<link> http://www.forbes.com/free_forbes/2003/1006/136.html

Sorry, this is 2003, I'm sure that there is one out for 2005 by now. Anyway, it is capital that makes a capitalist, not earnings. How much they save and invest.