Question: where would the richest household in the bottom 98 percent-the one at the “98th percentile”-end up? With $350,000, it only would be on the 93rd floor-three-fifths of the way up the building, and 67 floors below the household at the 99th percentile. The household at the 90th percentile would only be on the 35th floor, and the median household-the one right in the middle of the income distribution-would be on Floor 13. In other words, the gap between the median household, which had about $50,000 in 2010, and the 98th percentile is not dramatically greater than the gap between the 98th percentile and the 99th percentile. Maybe Occupiers should have organized around the banner of “the 98 percent.”
Source:
Read More @ Inequality in America and the Incomes of the Super Rich – Brookings Institution.
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