Business Report: An update on what it takes to get into the top - Hawaii News Now - KGMB and KHNL

Business Report: An update on what it takes to get into the top 1%

Image: Hawaii News Now Image: Hawaii News Now
HONOLULU (HawaiiNewsNow) -

IRS shows adjusted gross income in current dollars, which means past years are adjusted upward to dial out inflation. As far back as 2006, you could make $100,000 and not even be in the top TEN percent. But $150,000 does get you there. And $200,000 is top 5%. But top 1%, which required as little as $350,000 during the recession, now requires adjusted gross income of about $480,000 a year. 

And remember, the top 1% make nothing compared to the top one TENTH of 1%. The current situation is not merely rich versus poor. Most of the top 1% are lagging far behind the really wealthy.

Copyright 2018. Hawaii News Now. All Rights Reserved.

Powered by Frankly