Quote:
Originally Posted by Timgt5
to put this into perspective vs the human race,
IF you have a net of 75,000, that's the value of all liquid and hard assets minus all outstanding debts, you are in the top 10 percent of Humanity
If your net worth is 750,000 you are a 1%er of the Human race.
Even income does not tell the whole story though. My salary in NYC would barely afford me a tiny apartment, but here in North Carolina I can buy a brand new 2000 sq foot house with a small yard, still afford a nice car and some amenities.
Global poverty has actually fallen in the last 2 decades with less of humanity living in absolute poverty than in the 70s and 80s, India now has the largest population of middle class.
The current economic conditions are temporary. New technologies in manufacturing and construction will lower the costs of common goods and housing, reducing the amount of income needed to live, day to day.
Also keep in mind that class is not static, as explained by Thomas Sowell, PHD
|
The number is a 75k household is in the top 20. It is the top 400 that have all the wealth and the top 1 that has increased its wealth. Being in the bottom of the top 20 and only making 75k is disturbing because it means most of the wealth is held by a relative micron percent of the country. These are us numbers not global numbers. They are getting really confusing lately. There's another one floating around that is the top 20 of the bottom 60 or something like that.
IMO, there is no way class is as fluid as he would like you to believe. Imagine how hard it would be to succeed in school if your nutritional needs are not being met for example. Then add work hours, child care, gangs and drugs in the area.