Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: energyplay who wrote (25310)	11/11/2002 8:13:09 AM
From: Moominoid	Read Replies (1) of 74559

Basically I agree with your points... Most income over 100k has a significnat non- salary component - investment gains & incomes, roylaties, real estate deals, etc. There are about 3+ millon millionaires in the US, about 1% of the popultaion... I think the millionaire number is nearer 5million (maybe it is lower post bubble burst). Those are millionaire households which means about 5% of households. A lot of their wealth is in housing of course, so the return on their remaining capital is not going to push them too high up the income distribution. It's much more common to be a millionaire than earn $250,000 per year, especially as a salary rather than business income. Way less than 1 % make 250 k - The income distribution is not gaussian or even log normal -it's lumpy. It certainly has a very long tail out to the high end and probably bunched up above the various minimum wage levels at the lower end. Not sure what other lumps there might be deviating from a log-normal. But a whole bunch of people make 140-200k. Two working professionals in an urban area + some investment income or a consulting job will get you there. That's two people... so one earns $100 and the other $50 no probs with that.... David

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