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Strange understanding of middle class right there, that includes the top 5% of US American population.
He’s not wrong. The owning class, the billionaires, are so ridiculously farther ahead that it makes millionaires middle class.
And this is why we need to tax them out of existence.
“Make Millionaires ‘Rich’ Again”
That may be as it is, but that does not make the richest 5% of any population middle class.
It absolutely does when 90% of the wealth is grouped in the top one or two percent.
The difference between a millionaire and a homeless person is tiny compared to the difference between a millionaire and a billionaire.
I suggest you tell the next homeless person that he’s practically a millionaire, when compared to Elon Musk, and see his face light up. He’ll thank you for the really useful reference point that practically gets him off the street.
That’s not what the word “practically” means and no one above you suggested such.
Millionaires are only middle class now? What?
A million seconds is 12 days. A billion seconds is 31 years. That’s how far income inequality has come. So yes, millionaires are middle class. I know so many people that think they are well off but are stupidly poor when compared to the top 1%
1 million dollars over the last decade is 100k a year. That’s top 18% not top 5%. Top 5% would be over 350k a year. I’m just basing this off random Google stats so the numbers may shift a little but 100k is definitely upper middle class at best
A millionaire is a person who’s net worth is a million or more. As you noted that’s quite different from having had paychecks that sum up to a million.