I object to the use of the word elite! Someone with a degree is not elite! (Even if that term flatters my educational level.) Elite is someone who's parents

I object to the use of the word elite! Someone with a degree is not elite! (Even if that term flatters my educational level.) Elite is someone who's parents have ever increasing amounts of money through the holdings they already have, who do things like take degrees, etc as a lifestyle choice not because they need a job, and have aspirations over the job they get. Typically elite families would be billionaires, political leaders, bankers, etc.