24 ms·
Qualifying 125k as upper class is indicative of a gross misunderstanding of capitalism and wealth concentration. Upper class are business owners, old money hei
by pyrrhotech 10y ago
Qualifying 125k as upper class is indicative of a gross misunderstanding of capitalism and wealth concentration. Upper class are business owners, old money heirs, celebrities and the like who find it odd that other people go into work 9-5 for 40 hours of their lives for 40 years. They are less than 1 percent of the population and have incomes from investments of generally over 500k/year and net worths of 10 million+.
This is a much more accurate description of the various levels of upper class from Economist Felix Dennis:
$2-4 million: The comfortable poor
$4-10 million: The comfortably off
$10-30 million: The comfortably wealthy
$30-80 million: The lesser rich
$80-150 million: The comfortably rich
$150-200 million: The rich
$200-400 million: The seriously rich
$400-800 million: The truly rich
$800 million - $1.998 billion: The filthy rich
$1.998 billion and Above: The super rich
citation: http://www.wallstreetoasis.com/blog/who-is-rich http://www.wallstreetoasis.com/blog/who-is-rich
- bowmessage 10y agoThis scale is silly and meaningless.
- pyrrhotech 10y agoThat's because you and I have no idea what it's like to be part of the capitalist class. Perhaps studying the capitalist class is silly, but if we wanted to, this is an accurate description of it's members. Obviously 2-4 million isn't "poor" but it isn't quite capitalist class. More like upper-middle class saver. 10 million is entry level to capitalist class