Visualizing What You Have To Make Each Year To Reach The Top 1% In Each State

In 2015, the top 1% of Americans made 26.3 times as much income as the bottom 99 percent – an increase from 2013, when they earned 25.3 times as much, according to a recent study released by the Economic Policy Institute, a left-leaning Washington, D.C. think tank.

The study found that from 2009 to 2015, the incomes of the top 1 percent grew faster than the incomes of the bottom 99% in 43 states and the District of Columbia.

While we’ve covered this study before, we thought it’d be helpful to visualize what it takes to enter the top 1% income bracket in each state. The below infographic map presents the minimum annual income required to be in the top one percent.

Visualizing What You Have To Make Each Year To Reach The Top 1% In Each State

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A few key quick takeaways 

The top five highest one percent income states are on the East Coast. They are…

  • Connecticut ($701K)
  • DC ($598K)
  • New Jersey ($589K)
  • Massachusetts ($583K)
  • New York ($550K)

Here’s what it looks like at the lower end of the top one percent income states…

  • Mississippi ($254K) 
  • Arkansas ($255K) 
  • New Mexico ($255K) 
  • West Virginia ($258K) 
  • Kentucky (275K)
  • Alabama ($298K) 
  • Maine ($304)
  • Hawaii ($311K) 
  • Idaho ($315K) 

And a surprise: why is North Dakota not too far below a state like California, or only in a single category under New York?

  • California ($515K) 
  • New York ($550K)
  • North Dakota ($445K) …well, though it doesn’t have Manhattan – one of the largest financial centers in the world – North Dakota did have a recent oil boom up through 2014. In 2015 its top one percent income level was at an incredible $502K. But since 2015 due to a global decline in oil prices the number dropped to $445K.

Places with no state income taxes…

  • Texas ($441K)
  • Nevada ($341K)
  • Alaska ($400K)
  • Florida ($418)
  • Wyoming ($406K)
  • Washington (451K)
  • South Dakota (407K)

To be in the top 1 percent nationally in 2015, a family needed an income of $421,926.

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So it turns out, you have to be rich, but not that rich…

Visualizing What You Have To Make Each Year To Reach The Top 1% In Each State
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Author: HEDGE

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