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  • surewhynotlem@lemmy.world
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    1 year ago

    He’s not wrong. The owning class, the billionaires, are so ridiculously farther ahead that it makes millionaires middle class.

    And this is why we need to tax them out of existence.

    “Make Millionaires ‘Rich’ Again”

    • redballooon@lemm.ee
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      1 year ago

      That may be as it is, but that does not make the richest 5% of any population middle class.

      • surewhynotlem@lemmy.world
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        1 year ago

        It absolutely does when 90% of the wealth is grouped in the top one or two percent.

        The difference between a millionaire and a homeless person is tiny compared to the difference between a millionaire and a billionaire.

        • Chobbes@lemmy.world
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          1 year ago

          Wouldn’t the middle class be centered around the median, which would be completely unaffected by extreme outliers (such as the top 5%)?

          I agree with the sentiment that the difference between a billion and a million is about a billion and all, and I’m not sure how things are actually defined… But I would think that it would make sense to use median income (instead of mean income) to determine what the “middle” class is precisely to avoid skew from outliers.

        • redballooon@lemm.ee
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          1 year ago

          I suggest you tell the next homeless person that he’s practically a millionaire, when compared to Elon Musk, and see his face light up. He’ll thank you for the really useful reference point that practically gets him off the street.

          • SgtThunderC_nt@lemmy.zip
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            1 year ago

            I agree with you that he’s better off than most people, but do you consider a boomer who bought a house for $150k in 1980, that’s now work $1m in 2023, to be upper class? Technically there’s plenty of upper middle class people worth $1-2m.

      • paciencia@lemmy.world
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        1 year ago

        A million seconds is 12 days. A billion seconds is 31 years. That’s how far income inequality has come. So yes, millionaires are middle class. I know so many people that think they are well off but are stupidly poor when compared to the top 1%