The Charles Koch Foundation doesn't appear to be very good with numbers, which is kind of odd considering Charles Koch is estimated to be worth $34 billion.
In a recent ad by Koch's conservative non-profit group, it asserts that if you make $34,000 or more, you're in the top 1% of earners (worldwide).
In the United States, where Mr. Koch resides last I heard, one must earn approximately $352,000 annually in order to be among the top 1%. $34,000, $352,000 - those numbers are so similar, I may have to re-watch the film Twins to make certain Arnold Schwarzenegger and Danny DeVito are not identical.
In actuality, $34,000 is just 9.7% of what it takes to make it into the top 1% of earners in this country. Making matters even worse for the Charles Koch Foundation and their odd math is the fact that the top 1% of earners in this country earn an average of $1.12 million. The $34,000 mentioned in the ad is just 3.0% of $1.12 million.
How far off are the numbers presented in the ad? If we take a similar formula to the one concocted in the ad ($34,000 = 9.7% of $352,000), the following would be true:
- The United States would be comprised of 4.85 states.
- The U.S. would have seen only 4.268 presidents in office.
- A Major League baseball team's starting lineup (including pitcher or designated hitter) would present 0.87 of a player.
- Rush Limbaugh would have been married only 0.388 times.
- Charles Koch would be worth just $3.298 billion.
Yeah, the Charles Koch Foundation claims that you're in the top 1% if you make $34,000, yet if we take just 9.7% of Charles Koch's net worth of $34 billion ($3.298 billion), that would be the equivalent of 97,000 families whom make $34,000 a year (1,000,000 families if we take Koch's total net worth). Yeah, the Charles Koch Foundation may want to check their numbers again.
http://www.huffingtonpost.com/2013/07/11/koch-brothers-commercial_n_3581017.html
http://money.cnn.com/2012/11/20/news/economy/top-1-percent/index.html
http://www.forbes.com/profile/charles-koch/
In a recent ad by Koch's conservative non-profit group, it asserts that if you make $34,000 or more, you're in the top 1% of earners (worldwide).
In the United States, where Mr. Koch resides last I heard, one must earn approximately $352,000 annually in order to be among the top 1%. $34,000, $352,000 - those numbers are so similar, I may have to re-watch the film Twins to make certain Arnold Schwarzenegger and Danny DeVito are not identical.
In actuality, $34,000 is just 9.7% of what it takes to make it into the top 1% of earners in this country. Making matters even worse for the Charles Koch Foundation and their odd math is the fact that the top 1% of earners in this country earn an average of $1.12 million. The $34,000 mentioned in the ad is just 3.0% of $1.12 million.
How far off are the numbers presented in the ad? If we take a similar formula to the one concocted in the ad ($34,000 = 9.7% of $352,000), the following would be true:
- The United States would be comprised of 4.85 states.
- The U.S. would have seen only 4.268 presidents in office.
- A Major League baseball team's starting lineup (including pitcher or designated hitter) would present 0.87 of a player.
- Rush Limbaugh would have been married only 0.388 times.
- Charles Koch would be worth just $3.298 billion.
Yeah, the Charles Koch Foundation claims that you're in the top 1% if you make $34,000, yet if we take just 9.7% of Charles Koch's net worth of $34 billion ($3.298 billion), that would be the equivalent of 97,000 families whom make $34,000 a year (1,000,000 families if we take Koch's total net worth). Yeah, the Charles Koch Foundation may want to check their numbers again.
http://www.huffingtonpost.com/2013/07/11/koch-brothers-commercial_n_3581017.html
http://money.cnn.com/2012/11/20/news/economy/top-1-percent/index.html
http://www.forbes.com/profile/charles-koch/
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