 What does it take to be a "one percenter?" How much do you have to earn before you fall into this rarified zone? A new study written by socio-economists Estelle Sommeiller and Mark Price looked at state-level tax data from the Internal Revenue Service over the past 35 years. They've created a chart which looks at annual income at the threshold of the top 1% in each U.S. state.
The annual earnings that placed folks into the one percenter category varied per state:
* In Connecticut they earned more than $678,000
* In New York, they earned more than $506,000
* In New Jersey they earned more than $539,000
* In Washington, D.C., they earned more than $555,000
* In Massachusetts they earned more than $532,000
* California ($438,000) and Texas ($423,000), which are considered wealthy states, actually came in behind North Dakota ($502,000).
States with the lowest threshold include:
* West Virginia ($243,000)
* Kentucky and Alabama ($263,000)
* Maine ($274,000)
If somebody earning a good income in Connecticut or New York wanted to break into the one-percent category, he/she could move to a less competitive state.
Nationwide, the total share of income going to the upper 1% rose by about 12 percentage points since 1979. The one-percenters in Connecticut make a little over 33% of all income in that state, and in New York, the percentage is 32.6%. Elsewhere, the range is generally in the 14% to 22% range, up from the 7-11% range back in 1979.
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