Click here to read Tom Hayden and Robert Garcia on Occupy. . .
The New York Times has analyzed the demographics of the 1% in a series of features linked in green below.
The Wealth Gap
The wealth gap, as measured by net worth, is much more extreme than the income gap. The New York Times estimated the threshold for the top 1 percent in household income at about $380,000, 7.5 times median household income, using census data from 2008 through 2010. For net worth, the Times reports that the 1 percent threshold for net worth was nearly $8.4 million, or 69 times the median household’s net holdings of $121,000, according to the Federal Reserve’s 2007 Survey of Consumer Finances.
The Income Gap
According to the Times, “[T]he 1 percent . . . name conjures images of Wall Street bosses who are chauffeured from manse to Manhattan and fat cats who have armies of lobbyists at the ready.
“But in reality it is a far larger and more varied group, one that includes podiatrists and actuaries, executives and entrepreneurs, the self-made and the silver spoon set. They are clustered not just in New York and Los Angeles, but also in Denver and Dallas. The range of wealth in the 1 percent is vast — from households that bring in $380,000 a year, according to census data, up to billionaires like Warren E. Buffett and Bill Gates.
“The top 1 percent of earners in a given year receives just under a fifth of the country’s pretax income, about double their share 30 years ago. They pay just over a fourth of all federal taxes, according to the Tax Policy Center. In 2007, they accounted for about 30 percent of philanthropic giving, according to Federal Reserve data. They received 22 percent of their income from capital gains, compared with 2 percent for everybody else. * * *
“Most 1 percenters were born with socioeconomic advantages, which helps explain why the 1 percent is more likely than other Americans to have jobs, according to census data. They work longer hours, being three times more likely than the 99 percent to work more than 50 hours a week, and are more likely to be self-employed. Married 1 percenters are just as likely as other couples to have two incomes, but men are the big breadwinners, earning 75 percent of the money, compared with 64 percent of the income in other households. * * *
“The 1 percent are family-oriented, nearly twice as likely to be married as everyone else. They have more children, but not more cars, than middle- and upper-middle-class families. For them, education is critical. A vast majority of 1 percenters graduated from college, and in a whopping 27 percent of couples, both partners have advanced degrees. * * *
“The cutoff for the 1 percent varies depending on how income is calculated. On the low end, an analysis of census data puts the cutoff at $380,000 for a household and provides a wealth of demographic characteristics that were used in this article. On the high end, the Federal Reserve’s Survey of Consumer Finances, which uses a broader measure of income that includes capital gains, yielded a cutoff of $690,000 in 2007, the most recent year of data available. The Tax Policy Center, a nonpartisan group, makes projections based on Internal Revenue Service data and adjusts for people who do not file taxes. It puts the cutoff at $530,000 per tax return in 2011. Even by that gauge, though, $380,000 would still put a family well above the 95th percentile. * * *
The Race and Ethnicity Gap
“Only two racial groups make up a greater share of the 1 percent than of the population as a whole: whites, at 82 percent, and Asians, at 7 percent. * * *
“Studies show that whites have more upward mobility than blacks and that parental education level is a strong predictor of success. * * *

What jobs do the 1% have? It depends on who you ask.
The Times reports that the 1% includes managers, lawyers, physicians . . .
Real wealth in America isn’t nuanced at all, according to Paul Krugman: “A large part of the rising share of the top 1 — about 60 percent . . . — is actually attributable to the top 0.1 percent. If you add together nonfinance executives, “financial professions”, real estate, and lawyers, you’ve got more than 70 percent of the total; plus some of the other categories are probably essentially business executives too. Basically, the top 0.1 percent is the corporate suits, with a few token sports and film stars thrown in.”
The Health Gap
“Money may not buy happiness, but the Fed survey suggests it buys good health. About 90 percent of the 1 percenters describe themselves as being in excellent or good health, compared with 75 percent of everybody else. About 85 percent expect to live into their 80s, compared with 68 percent of everybody else,” according to the Times.
What percent are you?
Enter your income in the Times’s interactive map to see where you stand . . .

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