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(106,352 posts)

15. No, it's about $5 million

Fri Apr 25, 2014, 05:05 AM

Apr 2014

The *mean* wealth of the richest 1% of households is $16.4 million

http://www2.ucsc.edu/whorulesamerica/power/wealth.html

And the source for that - https://appam.confex.com/appam/2012/webprogram/ExtendedAbstract/Paper2134/Wealth%20Trends%201962%20to%202010%20Sept%202012%20Version%20WOLFF.pdf - gives a rough indication of the lowest bound for the top 1%, in Table 3 (p.59) - out of 117.6 million households in 2010, 1.06 million had net wealth of over $5 million (350,000 over $10m).

While $5m is a lot, that includes all property and retirement funds. I doubt many people with less than $5m in total would spend $230,000 in a year on elections.

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Highlight:

The left's secret club plans for 2014, 2016 [View all] FarCenter Apr 2014 OP

Also a path to disaster hootinholler Apr 2014 #6

k/r Dawson Leery Apr 2014 #2

I don't want 1%ers telling me how to save the country from 1%ers 1000words Apr 2014 #3

Members don't have to be in the 1% FarCenter Apr 2014 #4

My mistake 1000words Apr 2014 #5

Uh, being able to throw away $230,000 a year makes you a 1%er. joshcryer Apr 2014 #10

No, it's about $5 million muriel_volestrangler Apr 2014 #15

So your view is that only working class people can be "real" Democrats? brooklynite Apr 2014 #9

If that was my view, I would have written those words. 1000words Apr 2014 #13

+1, DLC 2.0 joshcryer Apr 2014 #11

K & R !!! WillyT Apr 2014 #7

And... Let That Last Bit Sink In... WillyT Apr 2014 #8