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Old 03-21-2018, 01:16 PM
 
11,299 posts, read 5,834,479 times
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I've structured my life with no debt, mortgage, or rent so I can live on $72k of cash flow but pre-tax as W-2 money? Nope. Not in my zip code.
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Old 03-21-2018, 01:29 PM
 
11,299 posts, read 5,834,479 times
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Quote:
Originally Posted by phantompilot View Post
We are a less classist society than even just 30 years and far less classist than 50 or 100 years ago.

This despite all the SJW noise about "income inequality" which lets be honest...is almost entirely an artifact of three negative and destructive forces that have emerged since the mid-century (20th):

- the liberal policies of the welfare state
- mass immigration
- fiat money gone wild

I could also add in the fact that overpopulation drives down wages, as does the presence of more workers in the workforce (women's "liberation" meant employers could get two workers for far less than twice the cost of the one they previously had), but these are second order effects of the other things.
Not really.

The welfare state just perpetuated generational poverty. If you're born in the bottom quintile, you're more likely now than ever before to remain in the bottom quintile. It cements in place the class society we already had.

This is not the first time the United States has seen mass immigration. From the Civil War to the Great Depression, the US had between 14% to 15% of the population immigrants. It's about 13.5% now. Without immigration, we'd be F'ed like Japan with a rapidly aging population and declining birth rate. Your FICA contribution would be 15%, not 6.2%. Your Medicare contribution would be 5%, not 1.5%.

Fiat money gone wild? Yep. But the bottom half of the population isn't seeing any of it. The corporate tax cut becomes retained earnings that either go to shareholders (rich people) as dividends taxed at a low rate or used to repurchase stock which causes capital gains for those rich people, also taxed at a low rate. I'm a 5%er. My taxes went down quite a bit. But nothing like a 0.1%er. The median household isn't seeing anything from the latest tax cuts.
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Old 03-21-2018, 01:45 PM
 
Location: Aurora Denveralis
2,961 posts, read 1,012,279 times
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Quote:
Originally Posted by phantompilot View Post
We are a less classist society than even just 30 years and far less classist than 50 or 100 years ago.
I take it your small town lost both its banker and its park square bum.
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Old 03-21-2018, 02:21 PM
 
Location: Myrtle Creek, Oregon
11,039 posts, read 11,450,778 times
Reputation: 17182
Quote:
Originally Posted by turf3 View Post
Well, the article fails, as does the title of this thread, to distinguish between "upper income" and "upper class"; plus there is no discussion of how the threshold of "double the median income" was arrived at.

To me, "upper income" means one could stop working now and never feel it.

To me, "upper class" is a whole suite of behaviors and attitudes that are generally correlated with income but are not driven by it. A retired professional boxer who grew up in the ghetto and now earns many millions of dollars per year from his investments of the money he earned while boxing, is not upper class; though his grandchildren might be.
Upper income means you have the opportunity to enter the upper class. True upper class people never discuss money. It is gauche.

If you are truly upper class, you don't need much in the way of cash flow. You just need enough to pay the help, maintain your properties and a little for personal expenses. Some upper class people are very industrious, not because they have to be, but because they have found a calling.
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Old 03-21-2018, 02:36 PM
 
Location: Saint John, IN
10,638 posts, read 3,311,331 times
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I think the article is VERY flawed!!
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Old 03-21-2018, 02:54 PM
 
Location: Backwoods of Maine
6,939 posts, read 7,654,041 times
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For those of you old enough to remember Jaqueline Kennedy...well, THAT was class!

If you're working for a living, you're not high class. If you haven't 'done' Europe, you aren't; if you didn't go to a private school as a child, you aren't; if you didn't learn to ride English and steer a sailboat in your childhood, you aren't. If there was no restriction on whom you married, you aren't.

People who go to public schools are not; people who are not WASP are not. They live differently than we do, eat differently, dress differently, and travel in different circles. They are not snobs. They may well run for political office, but never president (even JFK was not, but Jackie was).

To equate any of this with "income" would make most of them laugh....
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Old 03-21-2018, 05:08 PM
 
Location: Cebu, Philippines
2,154 posts, read 795,391 times
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Quote:
Originally Posted by Rocko20 View Post

Plus itís not how much you make, itís how much you keep. .
It's neither. It's how much you spend. Class is a social distinction, not economic.
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Old 03-21-2018, 06:10 PM
 
Location: Honolulu, HI
4,550 posts, read 1,138,948 times
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Quote:
Originally Posted by cebuan View Post
It's neither. It's how much you spend. Class is a social distinction, not economic.
I agree, economics can be a key indicator though. For example, before Donald Sterling became a billionaire real estate investor, he first had to be a highly successful attorney so he could buy his first property. If he was flipping burgers at McDonalds, he would have never had enough income to afford to invest in property, then take the profits to invest in more property.

Either way, upper income or class is all silly semantics.

Last edited by Rocko20; 03-21-2018 at 06:37 PM..
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Old 03-21-2018, 06:37 PM
Status: "I am in preparation mode!" (set 4 days ago)
 
5,513 posts, read 5,494,602 times
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Quote:
Originally Posted by AlaskaErik View Post
Do you make the cut? This article defines upper class according to family size and income. I make the cut, but sometimes I sure don't feel like I do.

https://www.cnbc.com/2018/03/20/how-...per-class.html
I do but I have to live like a broke person to build a life. People who live the upper middle class lifestyle are at the next stage of wealth, benefit from generational wealth or are broke. Those darn taxes.
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Old 03-21-2018, 08:02 PM
 
5,003 posts, read 6,678,903 times
Reputation: 4517
Nope, don't make it.
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