Re:Toxic culture is driving the great resignation
by Retric on Thursday January 13, 2022 @12:54PM
(#29924076)
First you read that chart wrong. 94,130 people make between 1M and 1.5M from the data you linked, an additional 34,060 make 1,500,000.00 — 1,999,999.99 etc. The actual number is (167,593,971 + 358 - 167,409,340) = 184,989 Americans make over 1M per year based on SSA data. Next that number is a massive underestimate based on how SSA calculates wages due to how Federal income taxes are calculated and the normal tax avoidance strategies used to minimize that W-2 number.
Beyond that the relevant question is not what percentage of people currently make that much money out of all people or even all workers. The relevant question is what percentage of people that aim for it eventually make that money. If hypothetically people make 1+M for on average 7 years of their life then your looking at something like ~10 x 184,989 people or roughly 1 out of every 180 people in the population. But again not everyone is in the running, a Teacher is hardly aiming to climb the corporate ladder to millions. Depending who you cut out the actual odds might be as high as 1-5%.
And of course ignoring actors etc who might make that much money but aren’t getting it on a W-2.
PS: To see just how biased official income statistics are try and calculate Bill Gates official lifetime taxable income some time vs how much his current net worth + total donations + 2.4B divorce added up to even ignoring all actual spending.
Beyond that the relevant question is not what percentage of people currently make that much money out of all people or even all workers. The relevant question is what percentage of people that aim for it eventually make that money. If hypothetically people make 1+M for on average 7 years of their life then your looking at something like ~10 x 184,989 people or roughly 1 out of every 180 people in the population. But again not everyone is in the running, a Teacher is hardly aiming to climb the corporate ladder to millions. Depending who you cut out the actual odds might be as high as 1-5%.
And of course ignoring actors etc who might make that much money but aren’t getting it on a W-2.
PS: To see just how biased official income statistics are try and calculate Bill Gates official lifetime taxable income some time vs how much his current net worth + total donations + 2.4B divorce added up to even ignoring all actual spending.