Aug 14, 2023 - Business
You have to make $564K to be in the 1% in Arizona
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So you wanna be in the 1% of income earners? That'll require you to make $564,000 in Arizona, according to a recent SmartAsset analysis of IRS tax filer data.
- That's almost $100,000 less than the national household figure of $652,657.
The big picture: The top 1% of U.S. families by wealth held more than a third of the country's total wealth in 2019, the Congressional Budget Office reported last year.
- Meanwhile, "families in the bottom half ... held only 2% of total wealth" in 2019, per the CBO report.
Zoom out: Nationally, joining the 1% club is most expensive in Connecticut, where residents need to make at least $952,902 to be a member.
- It's cheapest in West Virginia, where residents need to make $367,582 to be among the state's top earners.