It’s Not The “Idle Rich”; Study Reveals “Working Rich” Driving Top US Incomes

Posted on February 10, 2019 6:35 pm

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America’s richest people aren’t the “idle rich” – jumping off diving boards into giant vaults full of coins and taking off for adventures with their nephews.

According to a new working paper co-authored by members of Princeton University, US Berkeley, Chicago’s Booth School of Business, and the US Treasury Department, the top 0.1 percent, or those earning more than $1.6 million per year, are the working rich. 

Using tax data linking 11 million firms to their owners, the paper found that entrepreneurs – such as doctors, lawyers, financial