Line goes up, so the Amerikkkan economic system is still working as intended. Ignore the other line, just look at the upward line. The only important line. /j
how did they categorise the middle class
Put another way: 3.5 million people control more wealth than 210 million people. Each individual of those 3.5 million owns as much as 60 “middle classers” combined.
Lastly, according to this graphic, the top 1% and 60% of middle income earners account for only ~51% of the nation’s wealth? There’s no way the bottom 39% control 49% of the wealth, so where tf is it? Something’s fucky
They defined middle class as the top 80% that are not in the top 20%, not “60% of middle income earners”.
I’m guessing your missing wealth is in the top 20% that aren’t in the top 1%
Ah ok, so top income earners from 2-19% would account for that 39%. Seems right.
https://youtu.be/QPKKQnijnsM?si=uX5nOhWhyStz7VaB this is my basis for comparison. Still one of the best “income inequality explained” videos of all time
I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy:
Wtf is this “middle class” anyway? How do you define it? And where is the line?
The classes I learned from my schools and university is simpler: If you work, you are the worker. If you exploit the worker, you are a capitalist.
Right, middle class is a nebulous idea that doesn’t really have much meaning behind it. I agree that class membership derives its meaning from the relations in society. If majority of the income comes from the capital the individual owns then they’re a member of the capitalist class, and if majority of their income comes from their labour then they’re a member of the working class. These two classes have contradictory interests since capital owners act as employers of the workers.
We never learned about classes in school. My son was taught explicitly that the US was not a class society. Class is a vibe.
Shorthand for middle class is whether someone owns or could “own” a house
We never learned about classes either. We did learn about consumer segments, what papers they read and what brands of cigarettes they smoked.
I wonder if this correlates with the wealth of the 1% in pre-revolutionary China and Russia? 🤔
