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Reply #27: If you are earning more than $150,000, you are in the top 10% of all families [View All]

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happyslug Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 05:06 PM
Response to Reply #20
27. If you are earning more than $150,000, you are in the top 10% of all families
And that traditional definition of the "Rich" has always been the top 10% of the population. That someone in the top 10% of income can NOT see themselves as "Rich" is NOT a good sign. Karl Marx made several errors in his books, but the one point he observed and reported has NEVER been disproved. That point is when the "Petty Bourgeoisie" as he calls the people on the low end of the Classical Middle Class (i.e, in my example above those making between $100,000 and $250,000 a year), start to see their Income DROP in real terms, a revolution is just around the corner. The reason for the drop, is the Working class can NO longer provide the excess profits demanded by the rest of the Middle Class, and start to eat their own.

Please note, Marx was using the traditional definition of Middle Class, not the top 3% of income earners, but that 10% just below that 3%. CIA even accepts this unpleasant fact and uses it when it plans a revolution. In my post above I use both the Classic definition of the Middle Class and the modern American definition. A person earning $150,000 a year fits Marx's definition of a "Petty Bourgeoisie" and thus why your statement that $150,000 is "barely middle class" is frightening.

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