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Monday, March 3, 2014

Everyone In America Is Even More Broke Than You Think

The massive and growing gulf between rich and poor is one of the direst challenges facing the U.S. economy.
Highlighting this gap, more than half of U.S. wage earners made less than $30,000 last year, according to an analysis released by the Social Security Administration on Tuesday. That's not far above the $27,010 that marked the federal poverty line for a family of five in 2012.
We've created this infographic to help visualize the skewed income distribution in the country.
Where do you stack up?
-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.
*Based on the 153.6 million American wage-earners, as defined by the Social Security Administration.

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