3 ms·
Top 1% of income isn't middle class. Lot of folks in the top 1% who have a lot of equities investments - those get inflated, makes it easier to borrow more, po
by majormajor 4y ago
Top 1% of income isn't middle class.
Lot of folks in the top 1% who have a lot of equities investments - those get inflated, makes it easier to borrow more, pours gas on bidding wars.
- Scoundreller 4y agoArguably, if you have to go to work for money and need loans to buy shelter, you’re not upper class.
- akiselev 4y agoI still think it's useful to separate out the working middle/upper class from the true "aristocracy" (for lack of a better word). A professional in the middle class can save up and buy property until they can live off passive income to become upper class but that's a different class from the people who can fund their life styles through financial arbitrage by the sheer size of their wealth.
- 6510 4y agoO god, I never realized loans are a kind of charity. Reading myself write it it sounds sarcastic but nearly everyone is so damn poor they need someone to support them just to have a roof over their heads. Shelter is exactly the word in how temporarily it all is. You show documents to demonstrate how likely it is you will be able to pay for it some time in the future. Odds that will happen are not good at all. We also get food subsidies or we wouldn't be able to eat properly. Oh, and we also do all of the work on this planet. We do it to demonstrate how well behaved and civilized we are. Very obedient subjects.
- nly 4y agoHigh income has nothing to do with class or wealth.
- Red_Leaves_Flyy 4y agoExhibit A: Elon musk. The fool has neither wealth nor class.
- ac29 4y agoIt certainly has something to do with class and wealth. I am very comfortable saying that someone in the top 1% of income is in the upper class, regardless of the fact that the top 0.1% or top 0.01% of income may have vastly more assets.