| Author | Message | ||
| William H (Countachxx)
Intermediate Member Username: Countachxx Post Number: 2500 Registered: 2-2001 |
As mark said Art I was referring to individuals making over $100k, not families 5% sounds more realistic as to individuals making over $100k | ||
| Lou B (Toby91)
Junior Member Username: Toby91 Post Number: 166 Registered: 4-2001 |
Some data from the 1997 (sorry) Statistical Abstract of the US. Median Household (including singles) $37K Median Family $44K 18% > than 75K 10% > than 100K | ||
| Mark Lambert (Mlambert890)
Junior Member Username: Mlambert890 Post Number: 78 Registered: 4-2002 |
That link doesn't prove out 10% of individuals making over 100k. The statistic shows that the top 10% have a median family income of $169k. I'd wager that a big majority of those $169k+ families consist of two wage earners. Percentage of high income individuals is a different statistic. Last I had seen, an individual income of $100k+ put you somewhere around the top 5% | ||
| arthur chambers (Art355)
Intermediate Member Username: Art355 Post Number: 1504 Registered: 6-2001 |
William: Actually the top 10%'s income is well above 100K. Cite: http://www.usatoday.com/money/economy/fed/2003-01-22-household-study_x.htm | ||
| William H (Countachxx)
Intermediate Member Username: Countachxx Post Number: 2493 Registered: 2-2001 |
I Highly doubt 10% of the US pop makes over $100k. Where did you get your Stats Dr S ? | ||
| arthur chambers (Art355)
Intermediate Member Username: Art355 Post Number: 1498 Registered: 6-2001 |
It's one thousand plus ENZOs at retail, or about 750 at market price. Art | ||
| Jere Dunham (Questioner)
Member Username: Questioner Post Number: 547 Registered: 1-2003 |
You are right. I took it from another site. Boy, am I red-faced. I promise I will not post something like that again until I do the math myself...........Will you please forgive me. It did make everyone think about the scope of spending though, didn't it. | ||
| Drstranglove (Drstranglove)
Junior Member Username: Drstranglove Post Number: 172 Registered: 4-2003 |
You are correct sir. I did not want to say anything but Jere's math is not very precise. I think he found it on a site or in an email. Not from doing the math. BTW 1 bil min ago is 2003 - 1902 = 99ce DrS | ||
| Tim N (Timn88)
Advanced Member Username: Timn88 Post Number: 2909 Registered: 6-2001 |
i think a billion seconds ago was 1972. 60 sec/min x 60 min/hr= 3600sec/hr. x 24hrs/day= 86,400sec/day x 365 days/yr= 31,536,000 sec/yr. now 1,000,000,000sec divided by 31,536,000sec/yr= 31.7 years. 1959 wasnt 32 years ago. | ||
| Drstranglove (Drstranglove)
Junior Member Username: Drstranglove Post Number: 169 Registered: 4-2003 |
Gentelmen...please. The B:S has all of this info for you at your fingertips. the number of people with 100k income is around 15%. Over 100k 10%. It is easy to look this stuff up with the net. Google is a great tool. DrS | ||
| Chris Horner (Cmhorner17)
Junior Member Username: Cmhorner17 Post Number: 141 Registered: 4-2002 |
I heard one time that if you had $1 billion dollars, you would have to spend $40,000 a day every single day from the day you're born to the day you die. That's assuming a 70 year life span - and DOESN'T take into account interest. That's enough to make your head spin.... | ||
| Robert McNair (Rrm)
Member Username: Rrm Post Number: 290 Registered: 5-2002 |
William there must be more than 1% of the U.S. pop. making over 100k. I would imagine the number is more than 5%. | ||
| William H (Countachxx)
Intermediate Member Username: Countachxx Post Number: 2460 Registered: 2-2001 |
I believe its less than 1% of the US population that makes over $100k. and there are a little over 1 million people in a country of 300 M that make $1M or more. | ||
| Jason Wesoky (Wesokyjb)
Junior Member Username: Wesokyjb Post Number: 80 Registered: 1-2003 |
Actually, a perfect example of how averages can be distorted is this: The average income of a University of North Carolina graduate with a B.S. in geography is something like $1.2m. That's because Michael Jordan graduated with a B.S. in geography. | ||
| Jason Wesoky (Wesokyjb)
Junior Member Username: Wesokyjb Post Number: 79 Registered: 1-2003 |
Jordan, there's a huge difference between the average us income, which is greatly distorted by the top 5% of wage earners, and the median us income, which is, I believe, somwhere in the low $20k area. If anyone has the actual #, I'd like to know. Median and average #s say completely different things, and for purposes of us income, I'd argue that median is a much more accurate # | ||
| James Glickenhaus (Napolis)
Intermediate Member Username: Napolis Post Number: 1138 Registered: 10-2002 |
Dudes 1 Billion every 8 hours? Do the math 3B a day X 365? 1.095Trillion. It's 6+ trillion= every hour and 20 min. 7/24. That doesn't include defecit so lets say about a billion an hour... Non? | ||
| William H (Countachxx)
Intermediate Member Username: Countachxx Post Number: 2441 Registered: 2-2001 |
pretty depressing # Dr S | ||
| Jordan Witherspoon (Jordan747_400)
Member Username: Jordan747_400 Post Number: 856 Registered: 12-2002 |
thats actually a lot higher of an average than I thought. | ||
| Drstranglove (Drstranglove)
Junior Member Username: Drstranglove Post Number: 163 Registered: 4-2003 |
The average income in the US is around $35,000. That even factors in the kids so if you take them out it rises to around $50,000 flat out. DrS | ||
| Vincent (Vincent348)
Junior Member Username: Vincent348 Post Number: 137 Registered: 4-2003 |
I'd say we are. But if you round the population to 300m that makes it 4.73 an hour. of course assuming people are working a 24hour day 30 days a month. | ||
| Drstranglove (Drstranglove)
Junior Member Username: Drstranglove Post Number: 161 Registered: 4-2003 |
Did a google.... GDP for April is comming in at $10,442,000,000,000.00 So divide that by say 30 and then 24 gets you $14,502,777,778 an hour. So we are doing rather well this month. DrS | ||
| Randall (Randall)
Member Username: Randall Post Number: 376 Registered: 1-2003 |
I would say if we spend a billion every 8hr20min, then we must make a billion about every 7hrs? I'm sure someone could figure it with minimal time and effort. | ||
| William H (Countachxx)
Intermediate Member Username: Countachxx Post Number: 2429 Registered: 2-2001 |
Depends on whether you are in the US or outside the US. In the US 1 Billion = 1,000 Million. Outside the US 1 Billion = 1 Million Million  | ||
| Marq J Ruben (Qferrari)
Member Username: Qferrari Post Number: 326 Registered: 2-2002 |
Good question, Tom! Now I'm most curious as to whether anyone knows the answer. | ||
| TomD (Tifosi)
Advanced Member Username: Tifosi Post Number: 3447 Registered: 9-2001 |
what about how fast our economy earns money | ||
| Jere Dunham (Questioner)
Member Username: Questioner Post Number: 503 Registered: 1-2003 |
To put it in perspective: A billion seconds ago was 1959 A billion minutes ago, Jesus walked on the earth. A billion hours ago, our ancestors were living in the stone age. A billion dollars ago, 8 hours and 20 minutes the way our govt. spends money. |