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MYTH WARRIORS: Only 6% of all individuals in the US earn $100,000 USD a year!?

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Sinopsis

In the MYTH WARRIORS™ series we are targeting ideas to begin to assess whether they are credible or not (i.e., they are a myth, fallacy or even a lie). The target for this episode is, “Only 6% of all individuals in the US earn $100,000 USD a year!? Really?” (Really.) The six-figure income threshold. It is bandied about in popular culture and media. It represents a demarcation of “success” (or does it?). How many people actually earn six-figure individual income per year in the US? Why does this matter? Well, if the majority of people in the US earn $100,000 or more and you earn $30,000 you are far below average and you may understand better how much you would need to increase your individual annual income to equal what the average individual earns. On the other hand, if you earn $100,000 or more and you feel like you “don’t have enough money” that may be accurate if the reality is that the majority of people earn $300,000 a year (you feel broke because you earn substantially less than the average individual)