Over the last few years, there has been plenty of discussion about the role of the top 1 percent of income earners in the U.S.
From Occupy Wall Street to Occupy Phoenix, protesters spent hours, even days in the streets protesting financial inequality. “We are the 99%” became the rallying cry for the protesters as the slogan made its way on to numerous t-shirts and picket signs.
Who are the 1 percent? How much does household have to earn to qualify?
Business Insider looked at data from the Minnesota Population Center’s IPUMS, a version of 2012 U.S. Census data modified for statistical and privacy reasons. They used that data to estimate what the annual household income needed to be to qualify as top 1 percent in the 20 largest metropolitan areas.
The New York metropolitan area had the highest threshold at an estimated $530,000. The Bay Area ($522,000) and Boston ($520,000) followed close behind.
Phoenix (Scottsdale and Mesa included) came in 19th out of 20 cities with the top 1 percent threshold beginning at a household income of $351,000.
Business Insider also calculated median household income estimates for each of the 20 cities. Phoenix’s is $51,000.
Do you feel any different about the Occupy movements or the top 1 percent knowing those numbers?