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The 1 Percent Paint a More Nuanced Portrait of the Rich – NYTimes.com

The 1 Percent Paint a More Nuanced Portrait of the Rich – NYTimes.com.

Among the Wealthiest One Percent, Many Variations

KINGS POINT, N.Y. — Adam Katz is happy to talk to reporters when he is promoting his business, a charter flight company based on Long Island called Talon Air.

But when the subject was his position as one of America’s top earners, he balked. Seated at a desk fashioned from a jet fuel cell, wearing a button-down shirt with the company logo, he considered the public relations benefits and found them lacking: “It’s not very popular to be in the 1 percent these days, is it?”

[…]

As a member of the 1 percent, he is part of a club whose name conjures images of Wall Street bosses who are chauffeured from manse to Manhattan and fat cats who have armies of lobbyists at the ready.

But in reality it is a far larger and more varied group, one that includes podiatrists and actuaries, executives and entrepreneurs, the self-made and the silver spoon set. They are clustered not just in New York and Los Angeles, but also in Denver and Dallas. The range of wealth in the 1 percent is vast — from households that bring in $380,000 a year, according to census data, up to billionaires like Warren E. Buffett and Bill Gates.

[…]

Read the full article here: The New York Times

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Filed under (big) business, inequality, society, the rich, USA