Who Actually Are the One Percent?

[American_Jihad]

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Who Actually Are the One Percent?

12/28/2011

Given all the fuss we’ve had this past year over the 1 percent and the 99 percent, Occupy Wherever and so on, I thought it would be interesting to pull out the statistics for who actually are that one percent that everyone is getting so irate about.

The report itself is a couple of years old but no matter, it’s still highly informative. You can read it in full here.

The interesting table is Table 2, which gives us the breakdown by employment type for that 1 percent. Further, it gives us that one percent over time as well (page 51 of the report).

...

Who Actually Are the One Percent? - Forbes


Executives, managers, supervisors (non-finance)
Top non-financial executives, publicly traded firms
Executive, non-finance, salaried
Executive, non-finance, closely held business
Manager, non-finance, salaried
Manager, non-finance, closely held business
Supervisor, non-finance, salaried
Supervisor, non-finance, closely held business
Financial professions, including management
Lawyers
Real estate
Medical
Arts, media, sports
Computer, math, engineering, technical (nonfinance)
Business operations (nonfinance)
Skilled sales (except finance or real estate)
Professors and scientists
Farmers & ranchers

...

 

[Mr. H.]

Farmers and ranchers LOL.

Where's that thread bemoaning the plight of these two?

 

[edthecynic]

Not one of them are the 1%. The 1% are the truly WEALTHY, not the 1% of wage income.

 

[The Rabbi]

Not one of them are the 1%. The 1% are the truly WEALTHY, not the 1% of wage income.

Move goalposts much?
People gripe about "the wealthy" but they have no idea what they are talking about. People probably think Michael Jackson was wealthy when he died.

 

[edthecynic]

Not one of them are the 1%. The 1% are the truly WEALTHY, not the 1% of wage income.

Move goalposts much?
People gripe about "the wealthy" but they have no idea what they are talking about. People probably think Michael Jackson was wealthy when he died.

MJ is a wage earner, he is not one of the 1%. The 1% are these 60 families who rule this country.

http://www.pdfarchive.info/pdf/L/Lu/Lundberg_Ferdinand_-_America_s_60_Families.pdf

 

[The Rabbi]

Not one of them are the 1%. The 1% are the truly WEALTHY, not the 1% of wage income.

Move goalposts much?
People gripe about "the wealthy" but they have no idea what they are talking about. People probably think Michael Jackson was wealthy when he died.

MJ is a wage earner, he is not one of the 1%. The 1% are these 60 families who rule this country.

http://www.pdfarchive.info/pdf/L/Lu/Lundberg_Ferdinand_-_America_s_60_Families.pdf

Sixty families is a lot less than 1%.
Bad at math as well as logic.

 

[oldfart]

According to tax return data compiled by the SOI Division, here is a summary of the top 0.1% of income recipients by occupation:

Financial executives 18.4%
Non-financial executives of publicly traded companies 40.8%
Not working or deceased 6.3%
Lawyers 6.2 %
Real estate 4.7%
Medical professions 4.4%
Entrepreneur not elsewhere classified 3.6%
Arts, media, sports 3.1%
Computer, math, engineering, technical (nonfinance) 3.0%
Other 2.6%
Business operations (nonfinance) 2.2%
Skilled sales (except finance or real estate) 1.9%
Professors and scientists 1.1%
Farmers & ranchers 1.0%
Unknown 0.7%

http://www.indiana.edu/~spea/faculty/pdf/heim_JobsIncomeGrowthTopEarners.pdf

This is a little narrower than the top one percent. But it's enough we should stop the fluff about the top one percent being entrepreneurs, sports figures, and entertainers. Two-thirds are executives and lawyers.

 

[The Rabbi]

According to tax return data compiled by the SOI Division, here is a summary of the top 0.1% of income recipients by occupation:

Financial executives 18.4%
Non-financial executives of publicly traded companies 40.8%
Not working or deceased 6.3%
Lawyers 6.2 %
Real estate 4.7%
Medical professions 4.4%
Entrepreneur not elsewhere classified 3.6%
Arts, media, sports 3.1%
Computer, math, engineering, technical (nonfinance) 3.0%
Other 2.6%
Business operations (nonfinance) 2.2%
Skilled sales (except finance or real estate) 1.9%
Professors and scientists 1.1%
Farmers & ranchers 1.0%
Unknown 0.7%

http://www.indiana.edu/~spea/faculty/pdf/heim_JobsIncomeGrowthTopEarners.pdf

This is a little narrower than the top one percent. But it's enough we should stop the fluff about the top one percent being entrepreneurs, sports figures, and entertainers. Two-thirds are executives and lawyers.

At least you are admitting they aren't all Wall St fat cats. That's got to be some kind of progress. At least until the next thread when you slam the "one percent banksters who got us into this mess." Then this post will go down the memory hole.

 

[TheOldSchool]

The 1% is a lot broader than most people think. What people are actually upset about is the .00005ish percent. And I say good for them

 

[The Rabbi]

The 1% is a lot broader than most people think. What people are actually upset about is the .00005ish percent. And I say good for them

What people are upset about is that someone else worked harder and is making more money than they are.

Notice we never heard this crap when Bush was president. That's because with an unemployment rate about 5% everyone was too busy working, putting in overtime, and getting bigger paychecks to sit around and mindfuck about how much better others were doing.

 

[Bombur]

1% makes for nice slogans but there is nothing particularly important about that number in a real debate on the issue. It doesn't represent a break even point or establish a living standard that is significantly different than those just above or below them on the spectrum.

The vast majority of the issue is seen as you look at the highest levels of income.