I would phrase it more as a powerful tool if you are financially literate and have a predictable income (especially if it's predictable with confidence to a len

I would phrase it more as a powerful tool if you are financially literate and have a predictable income (especially if it's predictable with confidence to a lender), something which is generally more true of high-income people. Debt (when appropriately priced) allows you access things that you would otherwise need to wait to afford, allowing saving money vs. renting said thing, or the time-value to you of the length of that wait (whether it's through directly financially benefitting from that thing, or from simply whatever utility you are getting from that thing, or both, like buying a more expensive car which saves you money on fuel and maintenance as well as just being nicer to drive). It's dangerous when your income is not predictable (because it means that debt is more expensive for you as well as more personal risk), or if you are forced into debt for necessities that are beyond your means, or if you are financially illiterate, all of which can mean you take on debt beyond your means, which quickly becomes exploitative. (That latter part can happen even with very high incomes. It's not unheard of for e.g. professional sports players or celebrity actors making millions to take on way too much debt and ruin themselves, especially because their high income can disappear quickly, e.g. due to an injury)