<p>They pay the highest taxes (the truly rich-Warren Buffet, Bill Gates and Mark Zuckerbergs of the world pay very low rates), they get the fewest tax breaks - the tax deductions and breaks most people get start to phase out around $150K/year - and geographic location (making $50K in some states makes you feel more rich than making $130K in others). And the truth is that most high wage workers are along the high cost of living, high tax east and west coasts.</p>
<p>it doesn’t really matter anyway. Nobody sympathizes with someone making money like that. My problem is how many people despise people making money. The last few elections have gone one way because of hatred for the so-called rich. I see financial and economic knowledge hitting all time lows when the strong work ethic, delayed gratification, nose to the grindstone, do what it takes to win mentality is also hitting an all time high. </p>
<p>I expect more years of economic classism and hatred to manifest itself in our elections and in street violence because a whole generation of dolts is being created by a generation of ignorant activists seeking to undermine society and the idea of social and economic mobility to perpetuate a permanent underclass dependent on slick individuals to give them voice instead their own agency to get them ahead in life.</p>
<p>I have been following this thread and when I first read the initial question my mind jumped to the superficial reasons why I might not “feel” rich- my H and I both driving 11 year old cars that will likely not be replaced until both S & D are out of college, a long list of home maintenance and improvement items that I am constantly prioritizing and doing only that which cannot be put off any longer, wishing we could take more frequent vacations, etc. I think there are very few people who could not come up with a fairly quick and maybe long list of what we would do if we got an influx of some extra money. We would have a lot more money if we didn’t have children, but our lives would not be nearly as rich. I would not trade places with the $7 million a month lady, I am rich.</p>
<p>Another thought. We have spent a lot of money over the years on music education for our children as it is something that we value. My S is pursuing a career in music performance. I have seen kids who had a love for music, but not the same means we had to support our S and D. Some that come to mind started music in middle school or HS because programs had been cut in their districts for elementary students. Many aren’t able to afford any kind of private lessons and don’t have instruments at home to practice, can only play at school. Despite being talented these kids face huge obstacles trying to pursue a career in music or even make it a part of their lives. I can’t imagine resenting lower income students who receive financial aid. I’m happy that we’ve been able to support our kids to the great extent that we can.</p>
<p>You mean the ignorant activists who are trying to entrench the top 0.1% as an inherited aristocracy, while holding contempt for the 47% who they claim “don’t pay taxes”[1] and putting up barriers to class mobility in front of them, making them into an inherited underclass?</p>
<p>[1] in reference to federal income tax, but popular chatter seems to have lost that distinction (they certainly do pay Social Security and Medicare tax on wage and salary income, and pay sales taxes on things that they buy)</p>
<p>“Nobody sympathizes with someone making money like that. My problem is how many people despise people making money. The last few elections have gone one way because of hatred for the so-called rich. I see financial and economic knowledge hitting all time lows when the strong work ethic, delayed gratification, nose to the grindstone, do what it takes to win mentality is also hitting an all time high.”</p>
<p>The economic problems faced by the middle class in this country are no different than in any other country when the Oligarchy begins to be entrenched. Opportunities dwindle, asset protection and inflation is supported by the government officials who are rewarded with donations (bribes), and so it goes. </p>
<p>The policies put into place by central bankers worldwide since the collapse caused by International bankers worldwide have been put into place to protect wealth. The low interest rates do nothing to benefit the middle class or lower middle class saver. It’s not possible to build assets of any real value under the current protectorate. </p>
<p>I’m not sure how we move out of it, but they are certainly winning when they get the various middle class to fight each other like sharks while they quietly make off with all of the whales under the protection of the fed. Just saying.</p>
<p>“So-called”? The OWS movement wasn’t directed at the so-called rich. The movement was directed at a system which lends itself to the rich and powerful writing a tax code which makes them richer and more powerful, while at the same time opposing minimum wage increases, resulting in ever-greater gaps between the uber wealthy and the working poor. The people in the middle of those two groups end up scrabbling over what’s left. </p>
<p>I believe a lot of the racial tensions in our country come from the fight over finite money. Those of us who live off pay checks, regardless of the size of the paycheck, need to protect what we’ve got and many resent the poor for trying to get it. We perceive, probably rightly, that the pie is now finite. Back in the 60s there was more a sense that the pie itself was growing, and we could all make more together. So the majority was more willing to share, because we would all have more. </p>
<p>^I agree. It may get worse if the growth slows down further. It becomes a zero-sum game. People aren’t looking kindly when the poor gets beneficial treatment. It becomes you took it from me. Wall Street behavior and rich-getting richer isn’t helping growth. If anything, it interferes growth. </p>
<p>Exactly. The playing field is not level. Look at the state of IPOs in this country. </p>
<p>It would be one thing if we were discussing capitalism vs. socialism, but we aren’t. We are discussing how our country is becoming an oligarchy, with a caste system.</p>
<p>The class system now in place siphons off money from the middle class to give to the rich. But people here make the mistake of looking downstream. It’s not what’s downstream that is causing the problem, it’s the big massive hoover dam at the top of the river. </p>
<p>The rich aren’t the same from generation to generation. Larry Ellison wasn’t born rich. George Soros wasn’t born rich. Jeff Bezos wasn’t born rich. Very few very successful people have their wealth passed on for more then 3 generations (only examples I can think of are the Rockefellers, Rothschilds, and literal royalty). And we’re all better off now than people were a generation ago. </p>
<p>I wrote ambiguously I guess. People living today are better off in general than people were 30 years ago. Obviously any individual could be worse off today than they were 30 years ago.</p>