During Occupy Wall Street, everyone was talking about “the 1%.” But who really IS part of the 1%? YOU might be closer than you realize.
Some economists at the University of California, Berkeley analyzed income tax records and figured out how much household income you need to be part of the richest 1% in YOUR state. And in some places, the bar isn’t actually that high.
The state with the lowest bar is Idaho . . . if your household makes over $274,000 in Idaho, you’re in the richest 1%.
And there are five other states where you can be in the 1% by making under $300,000: Montana, Arkansas, New Mexico, Alabama, and Wyoming.
The state where you need the MOST money to be in the top 1% is Connecticut, at $642,000. Washington D.C. doesn’t count as a state, but to be in the top 1% there, you’d need $688,000-a-year.
The only other states where it takes at least half a million dollars a year to be in the top 1% are New York at $511,000 and New Jersey at $504,000.