5 ms·

And yet curiously all political discussions focus on the inequality between the lower middle class and the upper middle class.

newacct583 5y ago
The top 10% demographic is made up mostly by people who consider themselves middle class. The 10th percentile income is like $180k/year, or a little more than an entry level FAANG job. The 1% borderline is a little over half a million dollars, and while obviously very comfortable is not a lifestyle something people would consider genuinely "rich". So, yeah. It's stocks owned by these folks -- people with normal houses and normal cars and normal jobs, but with a ton of disposable income to stuff into Robinhood accounts -- that seem the most unfairly distributed.
- paulpauper 5y ago
  Compared to the Forbes 50, it feels like everyone is middle class. it's hard to fathom having as much money as Musk even if you are rich
- pgeorgi 5y ago
  "wealthiest 10%" != "10th percentile income" You can be part of the wealthiest 10% while having no income at all (not forever, but...)
  - lexapro 5y ago
    It's very difficult to be part of the wealthiest 10% and not have any income. Stocks, real estate and other assets will result in income.
- pessimizer 5y ago
  The top 1% consider themselves middle-class half the time. That's no reason to pretend like they are - unless you're British and the usage of "middle-class" means rich but without a title.
paulpauper 5y ago
that is because that is a large and reliable voting bloc
burkaman 5y ago
Do they? I don't really think that's the case, and you can seek out different discussions if that's what you've been hearing. Mainstream discussions are generally about "the 1%" vs. everyone else, or Biden's income threshold of $400,000 (the top ~5%).
lexapro 5y ago
Really? Most discussions on inequality I witnessed focused on the ultra-rich: Bezos, Musk and so on. I actually think it would make sense to include the upper middle class as well.
- Grustaf 5y ago
  Well ok, maybe on twitter. But in elections the middle classes are typically pitted against each other. "Raise taxes for lawyers", "Decrease welfare payments".

newacct583 5y ago

The top 10% demographic is made up mostly by people who consider themselves middle class. The 10th percentile income is like $180k/year, or a little more than an entry level FAANG job. The 1% borderline is a little over half a million dollars, and while obviously very comfortable is not a lifestyle something people would consider genuinely "rich". So, yeah. It's stocks owned by these folks -- people with normal houses and normal cars and normal jobs, but with a ton of disposable income to stuff into Robinhood accounts -- that seem the most unfairly distributed.

paulpauper 5y ago
Compared to the Forbes 50, it feels like everyone is middle class. it's hard to fathom having as much money as Musk even if you are rich
pgeorgi 5y ago
"wealthiest 10%" != "10th percentile income" You can be part of the wealthiest 10% while having no income at all (not forever, but...)
- lexapro 5y ago
  It's very difficult to be part of the wealthiest 10% and not have any income. Stocks, real estate and other assets will result in income.
pessimizer 5y ago
The top 1% consider themselves middle-class half the time. That's no reason to pretend like they are - unless you're British and the usage of "middle-class" means rich but without a title.

paulpauper 5y ago

that is because that is a large and reliable voting bloc

burkaman 5y ago

Do they? I don't really think that's the case, and you can seek out different discussions if that's what you've been hearing. Mainstream discussions are generally about "the 1%" vs. everyone else, or Biden's income threshold of $400,000 (the top ~5%).

lexapro 5y ago

Really? Most discussions on inequality I witnessed focused on the ultra-rich: Bezos, Musk and so on. I actually think it would make sense to include the upper middle class as well.

Grustaf 5y ago
Well ok, maybe on twitter. But in elections the middle classes are typically pitted against each other. "Raise taxes for lawyers", "Decrease welfare payments".