We are the 1% standing with the 99%

[one_voice]

http://westandwiththe99percent.tumblr.com/



My parents are the American Dream: they both came from poverty and worked their way through public universities, served their country, and are now part of the 1%. They volunteer, donate, vote, pray, and recycle. They’re great people.
They own 8 houses and 5 Americans cars between the two of them.They know the system is flawed, they just don’t know what to do about it.
I believe you do. I stand with the 99%.



I’m not sure if my family is quite part of the top 1%, but we’re definitely in the top 10%. We have worked incredibly hard to create and maintain our wealth, but that doesn’t mean we should feel entitled to hold on to so much of it that it hurts the rest of society.

Too much inequality between the rich and the rest creates an unsustainable economic situation - which is what we have today. I am the 1%. Raise my taxes!

[sinkingfeeling]

1. I'm doubtful that even with 8 houses, that's the 1%.

[valerief]

2. Yeah, the question for the 1% is how many jets and islands do you own? nt

[EOTE]

7. That's more like that top 10% of the top 1%.

I believe the top 1% starts at around $300K annual income, that's not exactly jets and island territory. Even amongst the top 1%, the higher levels own the great bulk of that wealth.

[valerief]

9. Right, but it's wordy to say "tenth of a percent" or "point one percent". nt

[TBF]

11. Here are some charts from Mother Jones - avg income 1.1 million for top 1%

http://motherjones.com/politics/2011/02/income-inequality-in-america-chart-graph

[EOTE]

13. That's the average, not where it starts.

That top 1% also includes quite a few billionaires who throw off that average quite a bit. I'm quite sure you can be making relatively low six figures and still be in the top 1%.

[TBF]

14. OK, I finally found it and you were very close -

If you just look at income alone 350K and up is top 1%

Source: US Census Bureau, 2006; income statistics for the year 2005 (so may be a little higher now, but 6 years is not that long ago)

http://en.wikipedia.org/wiki/Social_class_in_the_United_States

That doesn't count what folks have in assets, debts, student loans, inherited money etc ... so lifestyles are going to vary. But I agree they can all pay more taxes - no doubt about that.

[sinkingfeeling]

15. Paul Ryan uses an income of $460,700 as the top 1%. See this from ITEP

http://www.ctj.org/pdf/ryanplan2010.pdf

[nadinbrzezinski]

3. Interesting...first gen wealthy

Are more for paying taxes Et al...soros, Buffett the kid in picture. So I guess the more distant to actually making it, the less socially responsible. I truly wonder if this is a testable hypothesis.

[Uncle Joe]

4. Kicked and recommended for solidarity whether they're actually in the top 1% or just believe

they are.

Thanks for the thread, one_voice.

[piratefish08]

5. why anyone would want to be a rich man in a poor country, boggles my mind......

[Hydra]

6. Odds are, part of the 99%

Maybe the top end, but this is reality. The 99%, including those in the top 9% below that are on the chopping block.

This is the real genius of the movement. That being in the top 19% doesn't mean you should side with the 1% just because you might one day be in one of those 400 families.

[1monster]

8. Hmm. My sister and her husband own six houses. And they are no where near

the top ten percent.

My sister always could squeeze a nickle till the Indian rode the buffalo and both screamed that it was too tight. She bought her first house when she was nineteen. It was split into two apartments and she lived at home with the parents. The cost of the house was $11,000, $17,500 with the mortgage and she paid it off in less than half the time allowed. She and her husband eventually moved into the house (now renovated for a single family dwelling) and purchased five more homes in the same way. She rents them out, but with the bad economic times has one of her children living in one, pay as he can.

Even so, I think the combined income in that family is less than $50,000 per year, and she augments the income of another child and her children...

[valerief]

10. There are always exceptions. nt

[fascisthunter]

12. Thank you! This really is about OUR Democracy

Thank you to those who are part of the 1% for joining us!!!!