Reply to What is Middle Class....Really?

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Reply to "What is Middle Class....Really?"

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[quote=Anonymous][quote=Anonymous]Regardless, though, it still seems like these incomes would put them above the "millionaire next door" school teachers.  Maybe not.[/quote]

Basically, the only way to get to the upper class type of generational wealth is to get it via the financial industry, whether that's stock options, private equity, etc. Lawyers and doctors basically inhabit the lower half of the top one percent (at best) and aren't going to climb into the 0.1% of income or top 1% of wealth. They're the privileged workhorses of the elite. It's almost impossible to earn your way into the upper class and that's why you hear all these HHI people referring to themselves as upper middle class. They're recognizing that they just can't work themselves into having generational wealth.

Instead of class deflation on this site, I think that we're seeing a lack of awareness of how the upper class has pulled so thoroughly away from those who have to earn income.

Another way to look at it is that the professionals posting on here are unlikely to be affected by the estate tax because their total worth will be less than $10M. The estate tax affects very, very few people, but the upper class is doing its best to put fear into the upper middle class that they'll be affected.[/quote]

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