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Are you in the top 1 percent? Here's how much it takes to be among the nation'swealthiest
A fascinating article in Sunday's New York Times reveals how much an American household must earn in order to be in that much talked-about 1 percent of the nation's wealthiest that the Occupy movement has highlighted as a cause for great disparity in the nation.
After sifting through a mountain of data, the newspaper determined that an average household must earn more than $380,000 to be in the top 1 percent (pretax income, excluding capital gains). But around the nation, the amount varies.
In the wealthy New York suburb of Stamford, Conn., a household must earn a whopping $908,000 to be in the elite group. But in Jamestown, a depressed city in western New York, it takes only a relatively low $176,000 annual income to be in the top 1 percent.
In Houston, a household must earn more than $423,000 to be at the top. How does that compare with other major cities? Here's the top 10, ranked by population:
1. New York City $603,000
2. Los Angeles $467,000
3. Chicago $480,000
4. Houston $423,000
5. Philadelphia $425,000
6. Phoenix $381,000
7. San Antonio $357,000
8. San Diego $428,000
9. Dallas $425,000
10. San Jose $517,000
Around the nation, the top five jobs with the most 1 percenters are doctors, other managers and administrators, chief executives and public administrators, lawyers and accountants.
In Texas, it takes the following amounts to be in the top 1 percent:
1. Dallas $425,000
2. Houston $423,000
3. Odessa $419,000
4. Austin $418,000
5. Fort Worth $399,000
6. Galveston $359,000
7. Brazoria $372,000
8. Longview $362,000
9. San Antonio $357,000
10. Corpus Christi $353,000
