Re:How We Value the Super-Rich - Wall Street vs. Silicon Valley
by yummyfajitas on Sunday September 28, 2008 @06:03PM
(#317865)
>It's actually driving the middle class out of existence, and I would say at that point the wealth isn't being distributed evenly enough.
I think you are using the term "middle class" in an atypical way.
Consider a person who has "a car, air conditioning, a refrigerator, a stove, a clothes washer and dryer, and a microwave. He has two color televisions, cable or satellite TV reception, a VCR or DVD player, and a stereo. He is able to obtain medical care. His home is in good repair and is not overcrowded...his family is not hungry and he had sufficient funds in the past year to meet his family's essential needs"
Would you categorize this person as middle class? I think most people would (I certainly do). (If not, please explain.)
It turns out the person I just described is the median poor American. Everyone is now middle class, even the poor.
I think you are using the term "middle class" in an atypical way.
Consider a person who has "a car, air conditioning, a refrigerator, a stove, a clothes washer and dryer, and a microwave. He has two color televisions, cable or satellite TV reception, a VCR or DVD player, and a stereo. He is able to obtain medical care. His home is in good repair and is not overcrowded...his family is not hungry and he had sufficient funds in the past year to meet his family's essential needs"
Would you categorize this person as middle class? I think most people would (I certainly do). (If not, please explain.)
It turns out the person I just described is the median poor American. Everyone is now middle class, even the poor.
http://www.heritage.org/Research/Welfare/bg1713.cfm