3 ms·
There's an interesting article (i forget the title, would love if someone could link it) where the author makes the claim that the true modern wealth gap is bet
by spyckie2 6y ago
There's an interesting article (i forget the title, would love if someone could link it) where the author makes the claim that the true modern wealth gap is between the super rich and the upper middle class.
What the article says is that upper middle class feel that their potential income earned is stagnating RELATIVE to the super rich whose income is still increasing.
The middle and poor classes are already beaten into a silence that their standard of living will always remain stagnant and they will not enjoy the advances in the economy (since around 40 years ago).
It corroborates your point about why rich (in my definition, upper middle class) people would be against the idea of UBI. A lawyer making around 200-300k/yr has had his wages increasing around 5 times slower than a CEO / ibanker making around $2m a year. Instead of thinking, "hey I have a ton of money that poorer people could really use right now", they are instead thinking, "hey, how come THOSE rich people are growing their money soo much faster and I still have to slave away for 20 years before I can pay off my house?"
The term "rich" isn't good enough as a classification nowadays because there's a huge difference between the top 400 individuals in the US, the top 1%, and the top 25%, and they're all considered rich by the old definition.