What’s the definition of wealthy? One would think that being in the top 1 percent of earners would qualify, and by that definition, Gov. Chris Christie is wealthy. The cutoff point for the top 1 percent in New Jersey was $538,666 in 2012, according to the Economic Policy Institute, a left-leaning Washington think tank.
Christie earned $698,838, but as of yesterday he was insisting that he and his wife aren’t wealthy.
The average income of the top 1 percent in New Jersey was $1,546,481. The average income of the bottom 99 percent was $57,299.
What does it take to be in the top 0.01 percent of income earners in the Garden State: $10,931,922. The average income of the top 0.01 percent was $32,091,153.
Actually, the report had some good news for New Jersey. Although we are one of the top states in terms of overall wealth, we are only ninth when it comes to income inequality.