cancel
Showing results for 
Search instead for 
Did you mean: 
wt51015
Senior Contributor

Re: The facts on hunger??/ 2 Income Class Society/ $400,000 houses

In your area, what do you see as the price point that is going to separate the rich from the poor? It could be housing or vehicles or even total wealth. Like many have said, there is a growing disparity between the two classes. I would like to think I would fit into the higher one than the lower one, but where do you think you fit in?

0 Kudos
Packard27
Senior Contributor

Re: The facts on hunger??/ 2 Income Class Society/ $400,000 houses

Nationally, if you have a household income of >$160K/year and an investment portfolio (i.e. a net worth sans your primary residence, cars, and adult toys) that is measured with seven numbers, then congratulations. You are now in the top 10% in both your annual household income and your net worth vis a vis 90% of your fellow Americans. Bonus points if you managed to do so well prior to your 1/2 century birthday.

 

Good health

0 Kudos
Red Steele
Veteran Advisor

This month's Esquire Magazine

Profiles 80 of what it considers the most influential men of the last 80 years...to celebrate 80 years of publication. Actors, politicians, musicians, reformers, sports stars, etc. but do you know how many businessmen they selected? Maybe one, if the twit behind tweet would be called that.

 

Something is wrong here in utopia.

rswfarms
Senior Contributor

Re: Book: MILLIONIARE NEXT DOOR

We do have a rich part in my town that is around 20 miles south of the downtown Twin Cities area. Houses start at $750,000 and go up to around $2 Million. These $2 Million dollar houses have over 10,000 finished square feet, along with tuck under garges. This means the garges are basicaly 2 stories high with a garge entrance on the main level and then you drive around back and there is another garge entrance there at the basement level, some of them you can park 8 cars in. I have been over to some of these $2 Million dollar houses and they are just huge inside, much, much, more living space than a 5 memeber household needs .

 to live in. On cars, the middle-class wastes alot of there money on leasing a car, rather than buyimg one. They lease the $50,000 GMC Yukon's XL. and with leasing people can afford more of a car than they can afford paying cash for, so cars are not a good judge of if someone is rich or not. Also. I read a book called the "Millioniare Next Door". In it they did a survey of what kind of houses people that are multi-millioniare with a net worth of $10 to $25 Million Dollars owned. These people lived in just a $350,000 house and drove a 8 year old Ford car. So, it shows that you can not judge a person as wealthy by the house they own or the car they drive. It is there net worth that tells the true story of if they are rich or not. You should read the book, it was written by 2 college teachers and is excellent. It also tells how these people made there money. Only 5% of multi-millionares inherited there money..

 

0 Kudos
rswfarms
Senior Contributor

Re: The facts on hunger??/ 2 Income Class Society/ $400,000 houses

interesting on the top 10%. I meet that level if you count the farmland I own and the income it generates, but I do not consider myself weathly at all. I think of myself as just upper middle-class. In fact my wife still cuts out coupons to buy our food with at the grocery store and she has even bought some of our sofa's and end tables at the ;ocal GOODWILL Store.

0 Kudos
sw363535
Honored Advisor

Re: The facts on hunger??/ 2 Income Class Society/ $400,000 houses

The extreme two class issue is never more evident than when you watch Americans who are abroad.  Much of the tourist venues are in some of the most extreme poverty vs wealth areas.  The divide that is unnerving is that many americans don't like it and can't wait to get home --------- And many americans never notice it and seem to enjoy the presence of a servent class.  Similar division to those who want to govern like europe and those who think it is a step backwards.

0 Kudos
Shaggy98
Senior Advisor

Re: The facts on hunger??/ 2 Income Class Society/ $400,000 houses

And to think that us folks out in the sticks were happy to finally get electricity to our detached garage so we could finally have our very own electric garage door opener. I studied these back in the mid 80's, probably somewhere around 1986 when the garage door opener crisis was going on. If it weren't for the USDGDO (United States Dept. of Garage Door Openers) we hicks in the sticks would still have to do this task manually. A nice opener with a CSR (coil spring rating) of 100# and less than a 2% slope on each side made opening these heavy solid wood doors much easier. Yes, as I said before, I could just kick myself for not opting to convert both doors back then, but by 1989 the opener crisis was over and the cost of these electric devices have been on the rise every since. Thank goodness I opted to put the opener on my side of the garage, otherwise my wife (who owns the garage anyway) would have been enjoying this luxury all these years. Having this opener has allowed me to reduce my work day by 13 seconds. Although 13 seconds doesn't sound like a lot, but over the coarse of 30 years this has added many more enjoyable days to my time line. Now that is what I call ROI.
0 Kudos
kraft-t
Senior Advisor

Re: The facts on hunger??

It seems to be a common belief among many that in order for someone to qualify for food stamps or welfare that he should be in abject poverty. No electronic devices, no cell phones or cable tv. Without knowing whether the recipient was employed when he ordered those services or not. It seems as though some people prefer that charity recipients are broke and they prefer that they stay broke.

 

Thinking back to the days of the ag depression of the 80's when some folks are irritated that those that took bankruptsy rose from the ashes and rebuilt their businesses back into prosperity. It seems we want needy folks to stay poor and not arise from their miserable condition.

 

I know you folks think that we can starve unemployed people into taking an unavailable job. So what if you are wrong?

 

0 Kudos
sw363535
Honored Advisor

Re: The facts on hunger??

Kraft,------------ good points

consider a

 

couple of issues,   1. cable tv is too expensive for me.  it is a frill most of my "rich farmer friends" won't buy, especially with the viewing available on computer.  cell phones are too expensive unless they are antique.  elec. devices are expensive and even more expensive to provide service to--- and rurally service is not that available.  In those three items alone it is easy to be spending in the $300+ per month range and very difficult not to be over that.  If there are three members to the family push it to 400+ if the elec devices are shared.   That is a level of entertainment spending most government assistance recipients can't afford.  

 

2.  most every government office requires email communications and internet web access to function and communicate with.  And rurally the offices are almost unaccessable without good transportation.  Fortunately the local county tax base helps with that.

 

Sometimes the most insensitive folks are the ones who are supposed to be helping.  

0 Kudos
kraft-t
Senior Advisor

Re: The facts on hunger??

I don't know where you get your pricing but we use more then we ought to but it is a fraction of what you describe. I'm not saying you can't pay more but it is doubtful that folks of that income level spend $300 or $400 per month.

0 Kudos