How much money you have to earn to be considered rich in 42 major US cities

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How much money it takes to be “rich” varies from city to city.

About 20% of Americans are upper-income, or “rich,” meaning they earn at least two times the national median household income.

The amount of money it takes to be considered rich is largest in San Jose, California.

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How rich and poor Americans spend money now and 30 years ago

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Rent has nearly doubled as a share of a poorer family’s spending.

Every year, the Bureau of Labor Statistics tells us what the typical American spends on everything from his rent to his reading material. There’s just one problem. In a country with growing income inequality, the typical American leaves out a lot of Americans.

 

 

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11 charts that explain the financial inequality in America

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How rich are the superrich?

A huge share of the nation’s economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.

 

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Gas Prices Widening Gap Between Wealthy and Everyone Else

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The rich are back to pre-recession-style splurging.

A wider wedge is being driven between the wealthy and everybody else due to high gas prices.  The rich are back to pre-recession-style splurging: Saks Fifth Avenue and Nordstrom customers are treating themselves to luxury items like $5,000 Hermes handbags and $700 Jimmy Choo shoes, and they’re paying full price.

 

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Record Income Gap Between Rich and Poor Americans According to Census

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Income gap in U.S. represents greatest disparity among industrialized nations.

The income gap between rich and poor Americans grew to the widest amount on record and represents the greatest disparity among Western industrialized nations, according to U.S. Census data.

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Richest Americans You’ve Never Heard Of

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These folks are in the money!
Microsoft’s (MSFT) Bill Gates, Berkshire Hathaway’s (BRK.A) Warren Buffett and Apple’s (AAPL) Steve Jobs are all household names in addition to being among the wealthiest people in the country. There are, however, other billionaires, whose companies or products are also among the best-known in the country, yet they live in relative obscurity, unknown to most — including their best customers.

Take Subway, which serves 2,800 sandwiches and salads every 60 seconds in the U.S. How many of its customers have ever heard of its founder, Fred DeLuca, who was 17 when he opened the first store? Or Peter Buck, the family friend who loaned DeLuca the $1,000 that got the company off the ground back in 1965?

And just who else have you never heard of?