The "1%" is weird because it simultaneously includes a lot that people didn't want it to and doesn't include a lot that people think it does. The 1% is roughly

The "1%" is weird because it simultaneously includes a lot that people didn't want it to and doesn't include a lot that people think it does. The 1% is roughly half a million in yearly income or ten million in net assets (remember to subtract your mortgage from that!). It is true that this goes beyond the ultra wealthy to largely include "doctors, lawyers, small business owners, and other normal successful people", but that doesn't mean most doctors, etc. are in the 1%. There's an urban legend that 19% of people think they are in the 1%, but the actual poll was that 19% of people think they would be affected by tax cuts affecting the 1%. I'd like to see a study of what percentage of people think they are in the 1% or soon will be, because I bet it's a lot more than 1%. So you have a term that was meant to vilify the ultra-rich, but makes the average doctor, etc. worry about being vilified.