Imagine that the 1% control all the wealth & power

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[–]jet199 5 insightful - 3 fun5 insightful - 2 fun6 insightful - 3 fun -  (1 child)

1% is one in a hundred people, that's going to be at least a couple of kids in your year at school.

To be in the top 1% in the US you need to be earning £400k as a household. A married couple of doctors would be in the 1%. These aren't distant rich people living in a palace somewhere.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

It's a general reference, but often refers to the .001% or .01%, and for the 99%, 1% is distant rich. Median annual income in the US in 2019 was $31,133 (https://www.google.com/search?client=firefox-b-d&q=median+us+income). That - or also twice that - doesn't pay for healthcare, retirement, a house, a vacation, or much of anything. Quality of living in the US for the 99% has dropped dramatically since Reagan.