4 ms·

I really hope this guys 1% reference is metaphorical. You can be in the 1% and not be able to afford a weekend stay at the St. Regis. But you wouldn't expect a

• GFischer 13y ago
  "You can be in the 1% and not be able to afford a weekend stay at the St. Regis" I think you're seriously underestimating the wealth of the 1%: "The 1 percent threshold for net worth in the Fed data was nearly $8.4 million" So basically, everyone in the 1% has 10 million or more. I doubt a weekend stay at the St. Regis makes a significant dent. Source: economix.blogs.nytimes.com/2012/01/17/measuring-the-top-1-by-wealth-not-income/ www.nytimes.com/2012/01/15/business/the-1-percent-paint-a-more-nuanced-portrait-of-the-rich.html
  • rbcgerard 13y ago
    haha - you should probably read the articles you reference: "Some readers wondered if the 1 percent by wealth weren’t an entirely different group of people from the 1 percent by income. But there is substantial overlap: the Fed data suggests that about half of the top 1 percent of earners are also among the top 1 percent in the net worth category."
    • GFischer 13y ago
      So the grandparent poster is not in the 1% of wealth, but might be in the 1% of earners :) . When I think of the 1%, I think of the former, but I guess many are referencing the latter. In any case, I am neither :P