Yates fucks up big time with this though: "The cutoff yearly household income for the 1% varies, ranging from $380,000 using the Census definition of income to nearly double that using that of the Federal Reserve, which includes capital gains. In some parts of the country, $380,000 would qualify a household as rich, while in others it would not."
This is pure bullshit. 380 grand is big money anywhere, even in Manhattan where the median household income is around $70,000. If you live in the most expensive neighborhoods in the most expensive cities and choose to make use of private schools and such, those are all choices that your very large income allows you to make. If $380,000 doesn't feel like enough in Manhattan or Park Slope, you could live like a fucking king in Bridgeport. It is all about choices, and you have a shitload more nice choices on $380,000 than you do on $38,000...or $19,000 per year. Yates should know better than to fall for the zombie bullshit.