CNN Money delivered some startling news yesterday. Reporting on World Bank economist Branko Milanovic's book, "The Haves and the Have-Nots," you are one of the haves. Here's the deal:
It only takes $34,000 a year, after taxes, to be among the richest 1% in the world. That's for each person living under the same roof, including children. (So a family of four, for example, needs to make $136,000.) ... In the grand scheme of things, even the poorest 5% of Americans are better off financially than two thirds of the entire world.
The American Prospect is nonprofit, reader-funded journalism—and we need your help.
Our reporters dig deep, hold power to account, and explain how policy shapes people’s lives. If you value independent journalism that goes beyond the headlines, now’s the time to support it.
Here’s how you can help: • Donate to power fearless reporting
• Subscribe to get our print magazine 6x/year.