Comment by cherryteastain
1 day ago
Point is that income from dividends, rent and capital gains far outstrips the $150k the 90th percentile guy makes [1], which you have conveniently ignored. The $150k 90th percentile earner has more common with the $50k 50th percentile earner than he does with the billionaire earning $100M of capital gains, dividends and rent from assets. The 90th percentile guy is a wage laborer like the 50th percentile guy; they are effectively the same class. The only different class is the capital owning class.
Being able to afford a slightly nicer car or house does not change your class. Being able to influence elections, buy lobbying power, play power games, being in the "in" group of capitalism changes your class.
Household income at the 90th percentile is about $250k per the US census. [1] And wealth disparities tend to be much larger yet still since a significant chunk of the $250k spending is going to go into things they have equity in like mortgage/low depreciation assets/etc, as opposed to food and rent. Especially in modern times where seemingly every industry is trying to figure out ways to charge rent while providing as little in return as possible.
Oligarchs have always been in their own class.
[1] - https://finance.yahoo.com/news/income-puts-top-10-earners-16...