It’s getting harder and harder to crack into the 1%, according to latest IRS data

Shawn Langlois
It’s getting harder and harder to crack into the 1%, according to latest IRS data

According to the latest IRS data cited by Bloomberg, it took earnings of $515,371 in 2017 to crack into the top 1%, a rise of 7.2% from the year prior, even after adjusting for inflation. Since 2011, when the Occupy Wall Street protests were raging, the threshold to break out of the 99% has risen an inflation-adjusted 33%.