Yeah that seems a bit too high. There are 131.2 million households in the US, 700k per year of reach of those would be 92 trillion dollars.
But personal income in the US is about 21.8 trillion dollars, which would come to about 166k for each household.
But that’s still $90,000 more than the US median income of $70,000 pear year. Imagine getting a 120% raise. That’d feel good, wouldn’t it?
Edit: Note that this didn’t mention corporate income, which is between about $4.4 and $6.8 trillion per year. See how people drive the economy, and not corporations?
Yeah that seems a bit too high. There are 131.2 million households in the US, 700k per year of reach of those would be 92 trillion dollars. But personal income in the US is about 21.8 trillion dollars, which would come to about 166k for each household.
But that’s still $90,000 more than the US median income of $70,000 pear year. Imagine getting a 120% raise. That’d feel good, wouldn’t it?
Another funfact: Over the last 4 decades, the top 1% of Americans have taken $50 trillion from the bottom 90% of Americans. That’s $381,000 per household, so for the last 4 decades, 90% of Americans lost out on almost $100,000 per
yeardecade.Edit: Note that this didn’t mention corporate income, which is between about $4.4 and $6.8 trillion per year. See how people drive the economy, and not corporations?
Yeah but what about capital gains and other non-work related sources of income?
That should be included:
Coolio thanks!