>The cut-off point is at around $35,000 a year.
That doesn't sound true. Can you back up your argument with facts' data?
That doesn't sound true. Can you back up your argument with facts' data?
Various sources from the past couple years cite between $34,000 and $37,000.
More than two-thirds of the population of the earth makes less than $1,000 a year, so this shouldn't be very surprising.
Sniff test:
World pop: ~ 7,000,000,000
1%: ~ 70,000,000
Population of the US ~ 300,000,000
Median income in the US ~ $50,000
Still, that number doesn't seem accurate for the cut-off for the global 1%
2010 census has over 180,000,000 Americans over age 25. So assuming that there are people making more than $35,000 outside the US, this number still smells fishy...
Quickly looking at Wikipedia ( http://en.wikipedia.org/wiki/Household_income_in_the_United_... ) I see that the median household income is $50,233 and there are 116,011,000 households in the US. A quick googling shows there are about 316.1 million people in the US, yielding an average of 2.725 people per household. Dividing $50,233 drops our previous income figure down to $18,434.12 per person.
http://www.dailymail.co.uk/news/article-2082385/We-1--You-ne...