January 9, 2016

THE GREASY POLL:

No one stays in the Top 1% for long (Tami Luhby, January 7, 2016, CNN Money)

The Top 1% is often considered an exclusive, monolithic group, but folks actually rise up into it and fall out of it quite often. That's because their incomes can vary widely year to year.

Some 11% of Americans will join the Top 1% for at least one year during their prime working lives (age 25 to 60), according to research done by Thomas Hirschl, a sociology professor at Cornell University. But only 5.8% will be in it for two years or more.

As for holding onto this status for at least 10 years? Only a miniscule 1.1% of Americans are this fortunate.

Posted by at January 9, 2016 10:47 AM

  

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