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(CNBC)   Want to be among the top 5% in Washington, DC? The average top 5% annual income is $582,044 with minimum threshold needed to make top 5% at $250,000. Better get slinging those lattes, Sebastian   ( divider line
    More: Interesting, United States Census Bureau, United States Census, American Community Survey, Household income in the United States, Economic inequality, United States, Economics, financial website GOBankingRates  
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271 clicks; posted to Business » on 15 Apr 2019 at 10:56 AM (13 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

15 Comments     (+0 »)
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2019-04-15 11:20:51 AM  
Yeah, but you have to live in Washington, D.C.
2019-04-15 11:28:44 AM  
If I take what I've read correctly, what they're saying is that the 95th percentile is that $250,000 mark, and the average of incomes in the 95th percentile through 99th percentile is $582,000. Given that it's not a straight curve, the topmost earners in the 99th percentile earn vastly more than those in the next few percent down, that actually skews the numbers quite a lot.

I'd like to see this broken down to say, the 90th Percentile through 97th Percentile. Strip out the top 2% and see what the numbers actually look like when the overcompensated corporate officers and other people vastly overcompensated relative to their work are stripped out of the equation.

/doesn't have a problem with wealth
//has a problem with vast unearned wealth combined with systemic manipulation
///Unchecked capitalism, like rigid communism, doesn't work for an economic system
2019-04-15 11:43:04 AM  
That doesn't sound very different than any other big city. The stupid FA doesn't seem to contradict me - they compare it to the national average of $421,926. That includes a lot of smaller cities and towns. It's not even sensible to compare DC to "California" or "New York", as those both have a lot of people who don't live in the expensive big cities.
2019-04-15 11:49:08 AM  
Buying politicians is paying well I see.
2019-04-15 11:50:32 AM  
Why, the top 5% is barely middle class by certain standards.

2019-04-15 11:51:00 AM  

Nick Nostril: Buying politicians is paying well I see.


/ One and done.
2019-04-15 11:58:33 AM  
$250k in DC is two GS13s that have a modest home and a Camry.
2019-04-15 12:36:10 PM  

RoomFullOfMonkeys: Yeah, but you have to live in Washington, D.C.

I lived there '90-'91. It was a great town (as long as you stayed out of the east side.) Tons of great music venues, lots of bars and of course all the free museums as you could stand. I had a lot of fun there. Went back in '04 and it had all changed, the place was a fortress.
2019-04-15 12:44:28 PM  
Pfft.  Who cares?  If the majority of your income comes from taxable wages, you aren't wealthy.  You're just a working stiff like everyone else.
2019-04-15 12:51:22 PM  
I live in Northern Virginia. In my neighborhood I can throw a rock (thought this would be highly discouraged) and I'll probably hit a household with dual GS-13 or GS-14 earners in it, and that would be $250k. I'm surprised the entry to the top five percent is as low as $250k, to be honest.
2019-04-15 01:19:52 PM  
I'm an engineer and my wife is a public school teacher. We live inside the DC beltway and aren't quite at that threshold but close. Oh, and both of our employers are desperate to hire more qualified mid career folks.

Tldr: Nice places to live are expensive and pay is higher.
2019-04-15 01:22:31 PM  

Rapmaster2000: Pfft.  Who cares?  If the majority of your income comes from taxable wages, you aren't wealthy.  You're just a working stiff like everyone else.

It's unfortunately newsworthy because there's a huge segment of our population that believes a real estate investor worth hundreds of millions is a successful human, while a school teacher or police officer making $110,000 is a leech upon society.
2019-04-15 01:24:30 PM  
Whar infographic, whar?
2019-04-15 02:39:26 PM Full Size
2019-04-15 09:39:53 PM  

Nick Nostril: Buying politicians is paying well I see.

A politician who is poor is a poor politician
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