Talking to a friend today and the concept of the 1% came up.
- Roughly 80 percent of millionaires in America are the first generation of their family to be rich.
- Roughly a third were entrepreneurs or managers of nonfinancial businesses.
- Nearly 16 percent were doctors or other medical professionals.
- NYU sociologist Dalton Conley says that “higher-income folks work more hours than lower-wage earners do.”
- The top 1 percent pay 36.7 percent of all federal income taxes
- They earn just 16 percent of all income