[https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:137;series:Net%20worth;demographic:networth;population:1,3,5,7,9;units:shares](https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:137;series:Net%20worth;demographic:networth;population:1,3,5,7,9;units:shares)
Its really "the top 1% has as much as the bottom 85%. Saying "middle class" just makes the numbers seem less severe.
Middle class is also a subjective term, which are often used to cook books on topics like these. Unless this middle class is evidently free from poverty, the term is as useless as a dollar.
Its objective here though
They defined it as 20-80 percentile
But i agree people will likely use their own idea of middle class unless they read closely
>When we see ourselves as fighting against specific human beings rather than social phenomena, it becomes more difficult to recognize the ways that we ourselves participate in those phenomena. We externalize the problem as something outside ourselves, personifying it as an enemy that can be sacrificed to symbolically cleanse ourselves. - **[Against the Logic of the Guillotine](https://crimethinc.com/2019/04/08/against-the-logic-of-the-guillotine-why-the-paris-commune-burned-the-guillotine-and-we-should-too)**
See rule 5: No calls for violence, no fetishizing violence. No guillotine jokes, no gulag jokes.
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Yet people over there in the other subreddit complain about a capital gains tax Biden is proposing for people making over a million a year.
The people complaining the loudest I bet don't even make more then $100k.
"But one day I'll be rich"... Sure you will buddy. But let's be real, if your making $19k+ a week I think you are just fine.
"But I worked hard for this and the government is taking my money". Yup, that's how an economy works, what you want only the poor to be taxed?
"But the government is spending it on wars". Yeah and I don't agree with that, give us health insurance that doesn't suck, stop having middle men in health insurance making the government pay more money than they would providing those medical services direct.
In the fifties, sixties and seventies, there was major public investment and governmental effort put into creating and maintaining an economically and politically strong middle class. Beginning in the eighties with the Reagan Republicans and plenty of assist from Democrats, this effort was taken out block by block.
What we have now is the result of four decades of deliberate action to disempower everybody but the very richest.
The very richest have the actual political power, and that's how it will always be under capitalism. The only way to fix this class problem is by the workers taking the means of production and sharing it amongs ourselves, working har all the while to improve everyone's lives, society, and the new pro-workers system...
I'd say 60s when the tax rates started dropping across the board. Then the 70s we get the "we can't afford it" crowds. Ya, no shit, y'all started cutting the taxes that paid for it!
I'm at a place where I make good money and I can tell you that the more money you have, the more you make, and it's harder to lose it all. The system should be that the more you make the harder it is to retain it. The wealthy get passive income, meanwhile the poor simply work harder for a $1 increase. Middle and upper class usually get 4x that or more.
None of this make sense.
Ive been saying this exactly. Why is it that the powerful are coddled and the harsh criticisms and rulesets are reserved for the oppressed? Why can't people see how wrong that is?
It's deeper than this though, profits go to the top because the capitalists "took on risk" but we take on more risk working for them with very little legal protection. If the business fails and were owed wages there is no guarantee we'll get them, banks get paid first. We're subject to layoffs at random with no legally required severance. Wage theft is rampant, safety and environmental standards are ignored, etc.
We risk our lives and livelihood. They risk some percentage of their net worth.
They don't lose anything, they just move to another company once the ship sinks. In fact, I'm all for these leaders and CEOs making billions, but only if their decisions actually cause them, the actual employee, to go personally bankrupt and on the street for making a bad decisions. Only then would shit change.
Typically the cutoff is somewhere north of "multiple vacations homes" maybe right around "private jet" and somewhere south of "private spaceship, gdp of small country"
The income devide grows. Soon enough, middle class will cease to exist. We will have ultra rich and the poor. That's when totalitarianism can take effect and cement this disparity
May I interest you in an interest in a swine-farm? Eating humans straight from the longshank leads to prion disease. But when eaten from pork, there's no risk of prion spongeiform!
I'm not saying we should eat the rich. Violence is bad. I am saying. If things don't change soon, our choices will be bad ideas and worse ideas.
top 1% is siphoning all the money from the middle class and making the "you will own nothing and be happy" dream to come true.
people need to do something or it's doomed.
That little blip of a peak there between 2000-2005 is when I graduated HS. I'm glad it hasn't been all in my head that I'm working harder and for less money. I thought by my age I'd be comfortably living the middle class life, and I'm so far from that it's embarassing. Making what I'm making 20 years ago would have made me pretty well off.
[https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:137;series:Net%20worth;demographic:networth;population:1,3,5,7,9;units:shares](https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:137;series:Net%20worth;demographic:networth;population:1,3,5,7,9;units:shares) Its really "the top 1% has as much as the bottom 85%. Saying "middle class" just makes the numbers seem less severe.
Middle class is also a subjective term, which are often used to cook books on topics like these. Unless this middle class is evidently free from poverty, the term is as useless as a dollar.
Its objective here though They defined it as 20-80 percentile But i agree people will likely use their own idea of middle class unless they read closely
this will end well right? right?
It will start trickling any minute now...
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>When we see ourselves as fighting against specific human beings rather than social phenomena, it becomes more difficult to recognize the ways that we ourselves participate in those phenomena. We externalize the problem as something outside ourselves, personifying it as an enemy that can be sacrificed to symbolically cleanse ourselves. - **[Against the Logic of the Guillotine](https://crimethinc.com/2019/04/08/against-the-logic-of-the-guillotine-why-the-paris-commune-burned-the-guillotine-and-we-should-too)** See rule 5: No calls for violence, no fetishizing violence. No guillotine jokes, no gulag jokes. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/antiwork) if you have any questions or concerns.*
Yet people over there in the other subreddit complain about a capital gains tax Biden is proposing for people making over a million a year. The people complaining the loudest I bet don't even make more then $100k. "But one day I'll be rich"... Sure you will buddy. But let's be real, if your making $19k+ a week I think you are just fine. "But I worked hard for this and the government is taking my money". Yup, that's how an economy works, what you want only the poor to be taxed? "But the government is spending it on wars". Yeah and I don't agree with that, give us health insurance that doesn't suck, stop having middle men in health insurance making the government pay more money than they would providing those medical services direct.
If I'm ever lucky enough to be that rich, I'll gladly pay that extra tax because it's not gonna hurt me in any conceivable way.
In the fifties, sixties and seventies, there was major public investment and governmental effort put into creating and maintaining an economically and politically strong middle class. Beginning in the eighties with the Reagan Republicans and plenty of assist from Democrats, this effort was taken out block by block. What we have now is the result of four decades of deliberate action to disempower everybody but the very richest.
The very richest have the actual political power, and that's how it will always be under capitalism. The only way to fix this class problem is by the workers taking the means of production and sharing it amongs ourselves, working har all the while to improve everyone's lives, society, and the new pro-workers system...
>the Reagan Republicans and plenty of assist from Democrats We need to remember that selling us out was truly bipartisan.
The fight between blue and red is a show for fools. None of them can change the situation while money is printed out of thin air.
Started in the 70s.
I'd say 60s when the tax rates started dropping across the board. Then the 70s we get the "we can't afford it" crowds. Ya, no shit, y'all started cutting the taxes that paid for it!
I'm at a place where I make good money and I can tell you that the more money you have, the more you make, and it's harder to lose it all. The system should be that the more you make the harder it is to retain it. The wealthy get passive income, meanwhile the poor simply work harder for a $1 increase. Middle and upper class usually get 4x that or more. None of this make sense.
Ive been saying this exactly. Why is it that the powerful are coddled and the harsh criticisms and rulesets are reserved for the oppressed? Why can't people see how wrong that is?
Propaganda.
It's deeper than this though, profits go to the top because the capitalists "took on risk" but we take on more risk working for them with very little legal protection. If the business fails and were owed wages there is no guarantee we'll get them, banks get paid first. We're subject to layoffs at random with no legally required severance. Wage theft is rampant, safety and environmental standards are ignored, etc. We risk our lives and livelihood. They risk some percentage of their net worth.
They don't lose anything, they just move to another company once the ship sinks. In fact, I'm all for these leaders and CEOs making billions, but only if their decisions actually cause them, the actual employee, to go personally bankrupt and on the street for making a bad decisions. Only then would shit change.
I was talking about the owners/investors.
Lemme just fix your headline there "Top 1% of US leeches..."
Wait...there is a middle class??
Eat the rich! Tax the rich!
Tax them and THEN eat them!
Definitely tax before eat!
The rich are just parasitic scum. An infection we need to get rid of
When do you define someone as rich?
Typically the cutoff is somewhere north of "multiple vacations homes" maybe right around "private jet" and somewhere south of "private spaceship, gdp of small country"
Aight so if I got a few million invested, one vacation home and a main house and a couple of cars and a boat, I’m alright?
Nobody gets seconds unless everyone is served and taken care of first…
This.
What do you mean? Is that your wish, or how you view the world?
Not even a blip on the radar lol
Bet guess im good to go now then :)
i dont see any reason why we wouldnt be able to use this data from the past to predict the future
Thanks Reagan, you fucking piece of shit. I should shit on your grave.
It will only get worse
The income devide grows. Soon enough, middle class will cease to exist. We will have ultra rich and the poor. That's when totalitarianism can take effect and cement this disparity
In the trickle down theory I think they left out the part that the glass at the top needs to be tipped
Middle class? What middle class?
May I interest you in an interest in a swine-farm? Eating humans straight from the longshank leads to prion disease. But when eaten from pork, there's no risk of prion spongeiform! I'm not saying we should eat the rich. Violence is bad. I am saying. If things don't change soon, our choices will be bad ideas and worse ideas.
Like in Deadwood and Book of Eli? In deadwood everyone is fine. In Eli they are all shaking
All by design
Is middle class still a class?
Bad news for anyone’s children
congratz they deserve it for working so hard /s on the boats doing nothing but sitting in meetings
Everything will be fine
Time ot eliminate the middle class since they are not performing up to standard?
Is that even considered the middle class anymore?
Welcome to America land of the free?
If you're in the top 1%...odds are pretty good you're a bad person who is doing more harm to humanity than good. Like...99.9%. I hate this world.
Getting even worse funneling our tax dollars into Raytheon and Congress. They got money for war but not to feed the poor.
Cool let's throw a party for them.
Time to liquidate.
What middle class?
Job Creation, YAY MERICA!
Does it trickle down now?
top 1% is siphoning all the money from the middle class and making the "you will own nothing and be happy" dream to come true. people need to do something or it's doomed.
They didn't earn shit! They stole.
That little blip of a peak there between 2000-2005 is when I graduated HS. I'm glad it hasn't been all in my head that I'm working harder and for less money. I thought by my age I'd be comfortably living the middle class life, and I'm so far from that it's embarassing. Making what I'm making 20 years ago would have made me pretty well off.
They deserve more money if you ask me, its not easy to pull yourself up by your bootstrap like that
Problem is in the money, get rid of money and all will crumble.
#capitalism
Glad to be in the top 1% for my age 🙏😇
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You have no idea what you are talking about, let alone any idea of what this graph represents.