Re: The Haves, Have Nots, & Have Lots - Reformulation of the Middle Cl
Disagree with premise, only true in expensive cities.
The rich got poorer and made less during 2001-2004, and the average, poor, and middle-class Americans all made more money.
NYTimes, Feb 24, 2006:
"The savings of people at the top 10 percent of the income scale declined by 6 percent, ...their income, on average, fell by about the same proportion. (Meanwhile, the typical American's income rose by 1.6%.)"
Top 10% average income fell by 6.297% according to the FRB survey of Consumer finances.
The poorest 20% made 1.8% more over that time frame.
All numbers are real, that is, inflation-adjusted.
In Manhattan, 2 people can not live easily on $150k, much less an entire family.
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the only preferred destination is "upper class", or Have Lots.
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I don't know anyone who doesn't aspire to be rich someday, if only to give it all away.
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