View Poll Results: How serious a problem is the divide between the wealthy and the rest of us?

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  • Not a problem at all.

    35 28.46%
  • A problem, but not a serious one.

    8 6.50%
  • A fairly serious problem.

    42 34.15%
  • It's not just a "problem." It's a catastrophe that is only getting worse.

    38 30.89%
  • This divide does not exist.

    0 0%
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Thread: The divide between the rich and the rest

  1. #181
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    Re: The divide between the rich and the rest

    Quote Originally Posted by TurtleDude View Post
    so where does it start? I consider that upper class-
    And you would be wrong. The upper class is the topmost class. A guy in his seventies with ten million is upper-middle class. He is not in the same class as a billionaire.

  2. #182
    warrior of the wetlands
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    Re: The divide between the rich and the rest

    Quote Originally Posted by Guy Incognito View Post
    And you would be wrong. The upper class is the topmost class. A guy in his seventies with ten million is upper-middle class. He is not in the same class as a billionaire.
    and a billionaire is not in the same class is as someone with 100 billion or a trillion

    try again guy. ten million in assets puts you in the top one percent

    you want to draw lines between the top .05% and the the top .01%



  3. #183
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    Re: The divide between the rich and the rest

    Quote Originally Posted by Rocketman View Post
    Get out of your bubble, gain some drive and will discover some on your own and miight even become one of them
    So you can't actually back up anything you're saying with statistics which prove your point, is what you're saying. That's pretty much what I thought.
    You know the time is right to take control, we gotta take offense against the status quo

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  4. #184
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    Re: The divide between the rich and the rest

    Quote Originally Posted by TurtleDude View Post
    and a billionaire is not in the same class is as someone with 100 billion or a trillion

    try again guy. ten million in assets puts you in the top one percent

    you want to draw lines between the top .05% and the the top .01%
    0.1% is where you start to see the true aggregation of wealth.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  5. #185
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    Re: The divide between the rich and the rest

    Quote Originally Posted by TurtleDude View Post
    and a billionaire is not in the same class is as someone with 100 billion or a trillion

    try again guy. ten million in assets puts you in the top one percent

    you want to draw lines between the top .05% and the the top .01%
    Drawing lines at one percent or half a pecent is entirely arbitrary. The man who worked his entire life in a service job like a doctor or lawyer to accumulate ten million is middle class. He has no real wealth, merely some savings.

    You are right that a billionaire is not in the same class as a trillionaire. If trillionaires existed they would be in a different class-- in fact, they are, since the only trillionaires are nations.

    The uppermost class of natural persons is the billionaire level. The people with a few million do not belong to this upper class, and they really have practically nothing in common with the real upper class (except that the upper-middle class likes to consume the same Veblen goods as the upper class, usually on credit).

    The guy who works his whole life to sock away a few millions bucks has not achieved the critical mass to become upper class. It is not possible to get to that level as a salaryman. You need to be an entrenpreur to achieve true wealth, and even then the vast majority of entrepreneurs do not rise to this level.

  6. #186
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    Re: The divide between the rich and the rest

    Quote Originally Posted by Ikari View Post
    0.1% is where you start to see the true aggregation of wealth.
    Correct.

  7. #187
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    Re: The divide between the rich and the rest

    Quote Originally Posted by Guy Incognito View Post
    Drawing lines at one percent or half a pecent is entirely arbitrary. The man who worked his entire life in a service job like a doctor or lawyer to accumulate ten million is middle class. He has no real wealth, merely some savings.

    You are right that a billionaire is not in the same class as a trillionaire. If trillionaires existed they would be in a different class-- in fact, they are, since the only trillionaires are nations.

    The uppermost class of natural persons is the billionaire level. The people with a few million do not belong to this upper class, and they really have practically nothing in common with the real upper class (except that the upper-middle class likes to consume the same Veblen goods as the upper class, usually on credit).

    The guy who works his whole life to sock away a few millions bucks has not achieved the critical mass to become upper class. It is not possible to get to that level as a salaryman. You need to be an entrenpreur to achieve true wealth, and even then the vast majority of entrepreneurs do not rise to this level.

    I dont see any useful material in that post. your line drawing is no better than mine

    I think if you can live at a level consistent with a high six figure earner without working then you are very rich or wealthy



  8. #188
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    Re: The divide between the rich and the rest

    So how many economic and social class levels do we need for an accurate picture of the American economic spread?

    Apparently three no longer suffices. Would ten do? Fifty? One hundred?

    At what point does the reality that you have 100 or 1,000 times as much as the average person does simply make you considered as RICH and we can all agree on that?
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  9. #189
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    Re: The divide between the rich and the rest

    Quote Originally Posted by TurtleDude View Post
    I dont see any useful material in that post. your line drawing is no better than mine

    I think if you can live at a level consistent with a high six figure earner without working then you are very rich or wealthy
    That is a straw man. You have to work very hard to be upper middle class. As a matter of fact, it's harder than being upper class.

    A Six figure income isn't upper class. It's only "rich" in the that I makes you at the high end of middle class. A six rogue income makes you richer than most people.

    But in meaningful terms, the upper middle class has far more in common with the rest of the middle class than with the elite upper class. This is not an arbitrary distinction, we are talking about two different species. The upper class rule the world. A billionaire can get the president on the phone. They have real power.

    Compare that to somebody earning six figuresse who is slightly better off than somebody earning five figures, but I'm every appreciable way they are in the same class as compared to billionaires.

  10. #190
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    Re: The divide between the rich and the rest

    Quote Originally Posted by Ikari View Post
    So you can't actually back up anything you're saying with statistics which prove your point, is what you're saying. That's pretty much what I thought.
    Do you carry around financial statements of 5 or 10 of your closest friends?

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