Millionaires are the middle class now.
JcbAzPx@lemmy.world 1 day ago
No one really seems to know what middle class is anymore. Both the family that is one missed paycheck from being homeless and the one lobbying their state for school vouchers so they can repurpose the cost of their kids private school tuition to their college fund think they’re middle class.
drunkpostdisaster@lemmy.world 1 day ago
desktop_user@lemmy.blahaj.zone 3 hours ago
yes, probably more accurately multi millionaires?
boonhet@lemm.ee 1 day ago
Is there a real definition of middle class? I’ve seen income percentile based ones, but that’s just bs, because depending on how poor or rich and equal or unequal a society is as well as cost of living, being in the 50th percentile might mean you’re dry pasta every day (because it’s cheaper than instant noodles, per kilogram), or it might mean you’re very comfortable.
What follows is entirely subjective, and is my perception of middle class is, in the US versus my own country, Estonia)
To me, middle class means you can live a comfortable lifestyle, and once you’ve been earning a decent income for a while, you can lose your job and keep living mostly the same lifestyle for several months without going bankrupt. But in reality, that may be only people in the top 20% (excluding the 0.1% ultra wealthy that are most definitely NOT middle class).
Middle class is the classic 80s and 90s American movie/TV show family. Either the sole provider, or both parents if both are employed, lose their jobs? Well, it’ll be a tight few months, but we’ll make it.
Home is not middle class though. This article puts it into perspective. I love this bit: “So what did Kevin’s parents do for a living? It’s likely the mom was a fashion designer considering the amount of mannequins in the home. As for the dad, he was likely a regular businessman.” What the hell is a “regular businessman” and how do I become one and make 300k+ 2022 dollars solo or 600k+ total household?
Now you could say “this is what the middle class was in the 80s and 90s, it’s not like that anymore”, to which I’d say, no, it’s not that the middle class has changed, it’s that the middle class is shrinking hard, and most Americans are actually working class now.
Anyway, this is my thoughts about a country I don’t live in and thus heavily skewed based on media. In my own country, the middle class has only started forming over the last decade or 2. We gained independence from the soviet union in 1992 and at first the class system was “hustlers and organized crime vs normal people (poor)”. Nearly all the wealthy businessmen of the 00s either had organized crime ties in the 90s, or deceived people out of their capital vouchers (yes, that was a thing during the privatization of the country). After all, what good is a voucher when you need food money NOW?
A couple of decades later, to me, growing up middle class here means you’re not worried about where the down payment for your first home is coming from after you’ve held a job for a few years. Growing up upper middle class is never having to rent in your life, your parents help make sure of that. Upper class is if your parents didn’t just buy you a home with a loan or fund your down payment, they bought it outright for cash. Now yes, it’s possible that your parents are loaded and don’t help you at all because “damn kids need to learn how to make it on their own”, but most parents do realize that getting started in life is ridiculously hard, so if it’s within their means, they tend want to help their kids get their foot in the home ownership door one way or another. Also noteworthy is that unlike the US, buying an apartment/condo here is a much better deal generally, so most people’s first home is an apartment/condo. I mean we get shafted less when renting too, but most people still want to own (even if with a loan), because otherwise you’re just paying someone else’s mortgage, or funding their holidays.