Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
In NYC, You Need To Earn $493,439 To Be 1%
By
Jen Chung
Published Dec 12, 2011
Modified Dec 12, 2011
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Dec 12, 2011
Modified Dec 12, 2011
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
City Councilman James Oddo, one of the few Republicans in the City Council, has been hearing a lot about this Occupy Wall Street stuff. The Daily Politics reports that he was so curious about who really is NYC's 1%—and 10%, for that matter—and how much they pay in NYC taxes that he asked the Independent Budget Office for some details. Oddo shared the IBO's response today, "I think the numbers bear out the argument that we should not be attacking higher-income New Yorkers because their tax dollars fund, in large measure, all the services that New Yorkers have come to rely on." Another thing: don't get him mad.
Based on 2009 data, the IBO says: "The minimum income of a member of the so-called 1% in New York City is approximately $493,439 with an average income per filer of $2,247,515. To be a member of the top 10% in New York City requires a minimum income of $105,368. The top 10% of city taxpayers (about 345,169 payers) accounts for 71.2% of the city personal income tax. The top 1%, or about 34,598 people, pays 43.2% of the total burden. About 1.18 million filers pay no New York City personal income taxes at all, and some who live in poverty receive 'refund' payments of the values of their earned income tax credit, child care and dependent care credit."
Scan.IBOIncomeDistributionLetter
Tagged
1%
IBO
james oddo
occupy wall street
one percent
taxes
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
NJ early voting begins Saturday. Here's everything you need to know.
Our 2026 New Jersey voter’s guide for this year’s midterm elections.
By
Mike Hayes
Published Oct 23, 2026 at 11:01 a.m. ET
Countdown clocks are coming to an NYC bus stop near you
New York City bus service isn't exactly reliable, but new digital countdown clocks will give riders a better sense of how long they have to wait.
By
Stephen Nessen
News
Countdown clocks are coming to an NYC bus stop near you
New York City bus service isn't exactly reliable, but new digital countdown clocks will give riders a better sense of how long they have to wait.
By
Stephen Nessen
Are NJ schools unconstitutionally segregated? It's back to the courts to decide.
By
Colleen O'Dea
Early Addition: New Jersey considering a ban on chewing gum because of microplastics
By
James Ramsay
Queens mother charged with murdering her son after failed suicide attempt, NYPD says
By
Brittany Kriegstein
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .