Then why are wealth inequalities exploding? Why are we just about to witness the first trillionaire?

Because no matter what fairy tales you want to believe in your $20 "invested" in palantir won't make you a "shareholder" lmao

▲ matthest 2 hours ago | parent [-]

Wealth inequality is increasing, but the wealth isn't all flowing into the 1%'s pockets.

Lots of middle class people have graduated into upper-middle class: https://www.aei.org/research-products/report/the-middle-clas...

Wealth inequality is still a problem. But it's not just the people at the very top benefitting.

▲ lm28469 an hour ago | parent | next [-]

I don't think you understand what the 1% is, it's not your neighbour who has a nice house, a swimming pool and a ferrari...

https://images.seattletimes.com/wp-content/uploads/2017/12/9...

https://www.peoplespolicyproject.org/wp-content/uploads/2020...

https://datawrapper.dwcdn.net/CvQar/full.png

https://static.guim.co.uk/ni/1415721490539/Wealth_line-chart...

▲ matthest an hour ago | parent [-]

Definitionally the 1% is people making ~$800k+ a year.

Upper-middle class is people making ~$200k/year.

A lot of people have moved from middle class to upper middle class over the last decade. Both those categories are outside the 1%.

▲ pc86 21 minutes ago | parent | next [-]

A good indicator that someone is simply being dogmatic and not arguing in good faith (e.g. actually trying to understand someone's POV, and being open to being proven wrong in their assumptions) is when it takes them 5-20 minutes to reply until a particularly good point is made and then they disappear into the ether.

▲ kitten_mittens_ an hour ago | parent | prev [-]

When did upper middle class start meaning upper class? Something like 90% of Americans identify as middle class now.

	▲	pc86 13 minutes ago \| parent [-]
		That's why someone's self-described position means nothing. Something like 80-85% of drivers describe themselves as "above average" at driving, too. The upper limit and the median of the household income quintiles as of 2022 are:[0] `Lowest: $ 30,000 / $ 16,120 Second: $ 58,020 / $ 43,850 Middle: $ 94,000 / $ 74,730 Fourth: $153,000 / $119,900 Top: - / $277,300` I think getting into the weeds on whether $80k or $100k or $120k/yr is a middle class sort of misses the point, but at least with my eyes it is hard to argue you're middle class if you're making more than about $150k at the most. Even the GP, which I directionally agree with, says "upper-middle class is people making ~$200k/yr" but you're deep into the top quintile by that point, probably top 10%. I don't know what percentile I consider "upper middle" but it's definitely lower than top 10%. [0] https://taxpolicycenter.org/statistics/household-income-quin...

▲ conductr an hour ago | parent | prev [-]

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