View Poll Results: Anonymous Poll: Are you in the Dentist class?
- Voters
- 41. You may not vote on this poll
-
Yes. 1.2+ bitches.
13 31.71% -
No. Lost it all in crypto speculation.
15 36.59% -
Maybe. I don’t know or care.
13 31.71%
Results 1 to 25 of 241
Thread: Are you in the 9.9%?
-
05-23-2018, 04:38 PM #1
Are you in the 9.9%?
In between the top 0.1 percent and the bottom 90 percent is a group that has been doing just fine. It has held on to its share of a growing pie decade after decade. And as a group, it owns substantially more wealth than do the other two combined. In the tale of three classes (see Figure 1), it is represented by the gold line floating high and steady while the other two duke it out. You’ll find the new aristocracy there. We are the 9.9 percent.
As of 2016, it took $1.2 million in net worth to make it into the 9.9 percent; $2.4 million to reach the group’s median
-
05-23-2018, 04:53 PM #2Funky But Chic
- Join Date
- Sep 2001
- Location
- The Cone of Uncertainty
- Posts
- 49,306
Where does the 9.9 stop and .1 start? Asking for a friend.
-
05-23-2018, 05:01 PM #3
Does net worth include a paid-off home? If so, bow to me, I'm fucking aristocracy.
-
05-23-2018, 05:02 PM #4
-
05-23-2018, 05:03 PM #5
-
05-23-2018, 05:11 PM #6
-
05-23-2018, 05:14 PM #7
I wonder how many generations of Americans will go bankrupt from health issues, will work well and hard and leave their children in a worse economic state than themselves, will have to drink contaminated water, and will give more tax breaks to rich people they'll never associate with, before they realise that most of the people in over-regulated, over-taxed, hell-hole combat-zone of freedom-hating, socialist-communist countries in Western Europe are actually living the 'American' dream.
-
05-23-2018, 05:18 PM #8
Raises hand. And I don't even own a home. Lucky me.
-
05-23-2018, 05:18 PM #9
Are you in the 9.9%?
Rad
-
05-23-2018, 05:19 PM #10Funky But Chic
- Join Date
- Sep 2001
- Location
- The Cone of Uncertainty
- Posts
- 49,306
-
05-23-2018, 05:56 PM #11
Yeah, we're in the club. The Atlantic has been doing fine work. Interesting article. But net worth is a stupid measure of where to draw the line. A couple with a $1.5 million net worth in San Francisco or Manhattan aint in the same club as a couple with a net worth of $1.5 million in Kansas City MO or Elko NV.
-
05-23-2018, 06:04 PM #12
-
05-23-2018, 06:09 PM #13
-
05-23-2018, 06:12 PM #14
-
05-23-2018, 06:14 PM #15
Partly agree.
They do mention the numbers for net worth, and what you said certainly applies regionally, in terms of standard of living for a given net worth, and in terms of political influence/access in terms of net worth.
However, they are taking the numbers over time, and they are also trying to frame those simple numbers in terms of economic mobility, and who is taking who's slice of the pie.
IMHO, the net worth is to simplify a complex issue, and they spend the other 95% percent of the article trying to explain the context of that simplification, so that a non-dentist, 9.9%-er somewhere might understand.
-
05-23-2018, 06:17 PM #16Registered User
- Join Date
- Sep 2010
- Posts
- 975
Are you in the 9.9%?
Get what you’re implying but isn’t coming across the right way...it’s like saying what weighs more a ton of bricks or a ton of feathers.
What you’re implying is that if your net worth is in the 9.9% range then it has more value in a place like KC vs SF based on cost of living index, correct?
Sent from my iPhone using TGR Forums
-
05-23-2018, 06:19 PM #17Head down, push foreword
- Join Date
- Sep 2002
- Location
- OREYGUN!
- Posts
- 14,565
-
05-23-2018, 06:20 PM #18
Oh no I'm not
A fairly typical SF couple with a net worth of $1.5 million owns a $2.5 million house encumbered by $1.2 million of debt plus $300K in savings. A fairly typical Kansas City couple with a net worth of $1.5 million owns a $450K house with $150K debt plus $1.2 million in savings.
These threshold qualifiers would make more sense if they adjusted for home values.
Not quite. The article is about the 9.9% having political influence and power. The KC couple in the above example has real potential power and influence -- indeed, households with $1.0 - $3.0 million net worth pretty much control state and local politics in flyover country. By contrast, the SF couple are middle class schmoos.
-
05-23-2018, 06:22 PM #19
Net worth is net worth. Maybe the debt is higher, but, that number don't change no matter where you live.
-
05-23-2018, 06:31 PM #20
-
05-23-2018, 06:39 PM #21
-
05-23-2018, 07:00 PM #22
-
05-23-2018, 07:17 PM #23
No. Jezuz. Net worth is net worth. It's the value of your assets minus your obligations. Period. It's simple. But, that's America for you. Fantasizing about money. If only I could fudge this.....
Sent from my SM-G900V using TGR Forums mobile app
-
05-23-2018, 07:27 PM #24
Black folks have historically been handicapped in home equity accumulation, inheritance, and access to the highest-paying occupations.
But if you're looking at who is worth $1.2 million, the answer is pretty much old people. Old people who have accumulated home equity or savings from high-paying jobs, or whose wealthy parents have kicked the bucket. There are exceptions, of course, but there are only so many hedge fund managers and young beneficiaries of dynastic wealth out there.
-
05-23-2018, 08:08 PM #25Registered User
- Join Date
- Mar 2008
- Location
- northern BC
- Posts
- 31,040
Bookmarks