3 ms·
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
by 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 agoCompared 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 agoIt'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 agoThe 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.