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Rich people are dominating holiday travel
(www.nbcnews.com)
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this post was submitted on 27 Nov 2024
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According to this website about 41% of US households make at least 6 figures pre-taxes. Not that rich apparently.
EDIT: Got the numbers mixed up, initially I wrote 59% - which is the percentage of people making less.
I am a 59%-er and this feels much less freedomish than being a kid with dad making only 35k. Where does my money go?
Into the pockets of billionaires. If you're not in the 1% these days you aren't rich, you're middle class.
So... that leads me to think 45% of travelers having incomes over 100k this thanksgiving means they're underrepresented and thus are not dominating travel in the slightest?
Assuming the 59% number is correct, then you're right.
EDIT: The number is not correct. It is closer to 33%.
I don't know shit about taxes in the US, but a solid guess would be that 45% is actually proportional to the amount of households making 6 figures post-taxes.
We don't generally measure post-tax (or "take-home") income in economics discussions. Gross income is the preferred measure because it allows for a more like:like comparison.
According to every other website I went to, only around 34% make at least 6 figures.
https://www.supermoney.com/how-many-people-make-over-100k
https://www.marketingscoop.com/small-business/how-many-people-make-over-100k/
https://spendmenot.com/how-many-people-make-over-100k/
https://www.fool.com/money/personal-finance/articles/heres-how-many-families-make-100k-or-more-per-year/
I fixed my post - according to my source 59% make less than 6 figures, not more. It's still different to your sources, but not by as large a margin. Thanks for cross-checking!
I went to that site, and I interpreted it exactly like you did. They really were not clear about how they presented their data.
These links cite out-of-date numbers. The latest numbers are significantly higher.
Roughly 40% of households are currently over $100K, which is not that different than the 45% of travelers who are over $100K.
This person needs to check their math...
Yeah, I laughed at how badly that last one messed up their math.