Originally posted by: Engineer
Originally posted by: CADsortaGUY
Edwards thinks 200K = millionaire sitting by their pool?
CsG
200k = top 20% of income in the US.
Not so. According to Census Bureau statistics released this year, less than 3.3% of American families earn over $200K. The top 5% earn over $170K. You have to drop to $98,200 to get to the top 20%.
Edit, just for completeness, I just found the
household income stats. Curiously, they are
lower than
family income: top 20% = $86,860, top 5% = $154,120, less than 1.7% of households over $200K.
Either way, the top 20% is nowhere close to $200K.