2 ms·
Conflating wealth with security is inaccurate, but the article doesn’t make sense even in its own terms. For example, “millionaires” aren’t rare. The median ag
by rayiner 2y ago
Conflating wealth with security is inaccurate, but the article doesn’t make sense even in its own terms.
For example, “millionaires” aren’t rare. The median age of Congressional representatives is 57.5. That puts the average House member outside the top 10% of wealth for that age group, but somewhat inside the top 25%. https://www.myroadtofire.com/blog/average-net-worth-by-age https://www.myroadtofire.com/blog/average-net-worth-by-age. Similarly, a $1,200 medical bill wouldn’t “send most Americans into a financial tailspin.” Neither of my wife’s parents finished college, and none of their parents did. They could all afford a surprise $1,200 medical bill.
Again, the median income of a married couple household with children is $120,000/year. These are folks who can expect to be worth a million dollars after working and saving for 30 years, and who can afford a $1,200 medical bill (and support their kids or family members in such a situation). The article is painting a misleading picture of how secure Americans are. It is making this level of security seem rare, akin to “generational wealth,” when in fact it’s extremely common.
- aegypti 2y agoMarried couple households, comfortable. Secure. ~30% of children in the US don’t even live with 2 parents. “Middle class” was used once in reference here to class dysmorphia while working-class was used 5 times: the very term middle class has become a meaningless catchall for a disparate range of lived financial experiences Thus, a “comfort class”. Big enough to have seemingly hijacked the Democratic Party. Reads as less rare than distinct from the working class proper for me, personally.