Attention Media: Occupy Wall Street Protesters Are World’s Richest One Percent

Noel Sheppard

While the media champion the Occupy Wall Street movement as if it’s the American version of the Arab Spring, they’re predictably missing a crucial distinction.

As the Motley Fool reported Friday, those sleeping in tents and skipping showers in cities around the country are actually part of the world’s richest one percent:

In America, the top 1% earn more than $380,000 per year. We are, however, among the richest nations on Earth. How much do you need to earn to be among the top 1% of the world?


That was the finding World Bank economist Branko Milanovic presented in his 2010 book The Haves and the Have-Nots. Going down the distribution ladder may be just as surprising. To be in the top half of the globe, you need to earn just $1,225 a year. For the top 20%, it’s $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000.

NewsBusters readers might recognize Milanovic’s name as well as his book given a report we did on this issue two weeks ago which presented a chart of income inequality in numerous countries…

The article continues, with graphics, at NewsBusters.

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