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How much money you need to be part of the 1% worldwide?


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According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. Credit Suisse defines net worth, or "wealth," as "the value of financial assets plus real assets (principally housing) owned by households, minus their debts."

More than 19 million Americans are in the 1 percent worldwide, Credit Suisse reports, far more than from any other country, while "China is now clearly established in second place in the world wealth hierarchy," with 4.2 million citizens among the world's top 1 percent.

 

To be among the top 10 percent worldwide, you don't even need six figures: A net worth of $93,170 will do it.

And even if you have just $4,210 to your name, you're still richer than half of the world's residents.

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Make America Great Again!?!?!?!

These were the US IRS Tax Brackets the year I was born: 1957. (See way down below.) It was the tax rate paid by my parents and the rest of the so-called "Greatest Generation." A person who made a Billion dollars in one year (with "windfall" exceptions) could keep $100 Million of it. Today, most persons who happen to make a billion dollars in one year can pay a million of it to a tax attorney and may then end up paying between $0 and $10 Million, keeping about $990 Million (99%). Yet, for some reason businessmen back in the 1950's ended up investing even more of what they kept into further investment in their companies, increasing benefits for workers, etc. Now the highest percentage is spent on maintaining their grip on their money, finding ways to take even more from employees, lobbying for lower taxes and harsher labor laws for workers, making sure their own families maintain control, and luxury expenditures (such as jets, yachts, personal real estate). And a percentage invariably goes to "philanthropy" as a method of controlling the potential public outcry against the new status quo.

Tax Bracket Tax Rate
$0.00+ 20%
$4,000.00+ 22%
$8,000.00+ 26%
$12,000.00+ 30%
$16,000.00+ 34%
$20,000.00+ 38%
$24,000.00+ 43%
$28,000.00+ 47%
$32,000.00+ 50%
$36,000.00+ 53%
$40,000.00+ 56%
$44,000.00+ 59%
$52,000.00+ 62%
$64,000.00+ 65%
$76,000.00+ 69%
$88,000.00+ 72%
$100,000.00+ 75%
$120,000.00+ 78%
$140,000.00+ 81%
$160,000.00+ 84%
$180,000.00+ 87%
$200,000.00+ 89%
$300,000.00+ 90%
$400,000.00+ 91%
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