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(comment)

by berkle4455 4y ago

ethanbond 4y ago
No, it's not. The median household income in the United States in 2020 was $67,500.
- berkle4455 4y ago
  - ethanbond 4y ago
    Uh right, but you can infer from annual household income so low that there's no way "millionaire is middle class" is true. "Millionaire is a low bar for one of the highest paid professional groups in the world" is a very different statement from "millionaire is basically middle class." The latter really distorts people's understanding of the state of our society and their position in it.
    - berkle4455 4y ago
      - acdha 4y ago
        I would suggest that you learn how to accept fair criticism and learn from it. That’ll get you much further in life than resorting to insults when you get something wrong.
      - ethanbond 4y ago
        Oh I'm totally aware you're hyperbolizing. Nonetheless, most Americans have a very poor understanding of wealth distribution and some of that comes from the 95th percentile claiming to be middle class. This is bad for pretty much everyone: the rich get to masquerade as the middle class, and the middle/lower classes get to feel as if they're further behind than they ever could've imagined. So it's worth pointing out the facts: median household income is $65k and more than half the country couldn't sustain a $1000 emergency expense.
  - acdha 4y ago
    I don’t know what kind of bubble you live in but tech workers are one of the highest paid professions and even there millionaires are relatively uncommon unless you’re cherry-picking that to only the Silicon Valley subset. Having a median net worth of $1M puts you right around the 90th percentile currently. https://www.federalreserve.gov/publications/2020-bulletin-changes-in-us-family-finances-from-2016-to-2019.htm https://www.federalreserve.gov/publications/2020-bulletin-ch... It’s also worth mentioning that this is heavily biased by the real estate bubble. That’s important because classic usage of “millionaire” implied more liquid assets than the average boomer has when they’re sitting on a house in a nice location with limited options for safely tapping into that value.
    - berkle4455 4y ago
      - ethanbond 4y ago
        Working in US tech does not put you in the 90th percentile. You may have been hyperbolizing but in addition to that, you don't know what you're talking about.
      - acdha 4y ago
        > Working in US tech puts you in the 90th percentile. I’ve given you a link to the actual data. Why don’t you look at that and decide whether your hyperbole is doing anything, either to inform or improve your reputation.

(comment)

ethanbond 4y ago

No, it's not. The median household income in the United States in 2020 was $67,500.

berkle4455 4y ago
- ethanbond 4y ago
  Uh right, but you can infer from annual household income so low that there's no way "millionaire is middle class" is true. "Millionaire is a low bar for one of the highest paid professional groups in the world" is a very different statement from "millionaire is basically middle class." The latter really distorts people's understanding of the state of our society and their position in it.
  - berkle4455 4y ago
    - acdha 4y ago
      I would suggest that you learn how to accept fair criticism and learn from it. That’ll get you much further in life than resorting to insults when you get something wrong.
    - ethanbond 4y ago
      Oh I'm totally aware you're hyperbolizing. Nonetheless, most Americans have a very poor understanding of wealth distribution and some of that comes from the 95th percentile claiming to be middle class. This is bad for pretty much everyone: the rich get to masquerade as the middle class, and the middle/lower classes get to feel as if they're further behind than they ever could've imagined. So it's worth pointing out the facts: median household income is $65k and more than half the country couldn't sustain a $1000 emergency expense.
- acdha 4y ago
  I don’t know what kind of bubble you live in but tech workers are one of the highest paid professions and even there millionaires are relatively uncommon unless you’re cherry-picking that to only the Silicon Valley subset. Having a median net worth of $1M puts you right around the 90th percentile currently. https://www.federalreserve.gov/publications/2020-bulletin-changes-in-us-family-finances-from-2016-to-2019.htm https://www.federalreserve.gov/publications/2020-bulletin-ch... It’s also worth mentioning that this is heavily biased by the real estate bubble. That’s important because classic usage of “millionaire” implied more liquid assets than the average boomer has when they’re sitting on a house in a nice location with limited options for safely tapping into that value.
  - berkle4455 4y ago
    - ethanbond 4y ago
      Working in US tech does not put you in the 90th percentile. You may have been hyperbolizing but in addition to that, you don't know what you're talking about.
    - acdha 4y ago
      > Working in US tech puts you in the 90th percentile. I’ve given you a link to the actual data. Why don’t you look at that and decide whether your hyperbole is doing anything, either to inform or improve your reputation.