[lbo-talk] Re: working class?

[ravi]

At around 19/10/05 8:46 am, Mike Ballard wrote:
> 
> The top 20 percent owns over 80 percent of all wealth. In 1998, it owned 83
> percent of all wealth.  These are not working class people, although, I
> suspect, quite a few are landlords and highly paid professionals e.g. corporate
> & tax lawyers.  
> 

And members of this list!

How do you count top 20%? In terms of income? Net wealth? Bill Bartlett
chooses not to include future wealth since it is uncertain. Not to put
words in his mouth (i.e., this is my own extrapolation) ... does that
mean that someone whose parents might leave him >= $500,000 (and there
must definitely be a few such people in the "middle class") but who is
currently making $30k/year with zero savings, is in the bottom 50%?

	--ravi

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