The rich, the 1% and the 99%

Occupy are protesting against the bankers bonuses on Wall Street, and say they are the 99%, a reference to the 1% who are 'the rich'.

So who are the rich? How much do you have to make before you are classed as rich?

According to Professor Bill Rubenstien he said that in 1880 a rich person would have had £100,000 in assets or an income of £10,000 a year. Today's measure is annual earnings of £250,000 per year he thinks.

Another leading academic Professor John Van Reenen, director of the Centre for Economic Performance reckons in the UK £140,000 to be part of the 1%.

In 2009, it took $344,000 to become part of the top bracket of top tax payers in the US.

The USA has over 400 billionnaires, whereas in the UK we have 73 billionnaires, an increase from 53 last year.

It is important to remember that it is not just about earnings but wealth, including inherited wealth.

Today's inequality will continue it seems for quite a while yet.