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Cake day: August 14th, 2023

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  • But some who has earned a penny in interest has spent time as both worker and owner.

    I’m not talking about people who only make a small amount of interest or investment return over the course of their lifetimes. I’m talking about people who are already unambiguously middle class (between 25th and 75th percentile incomes), who end up relying on investment income to provide most of their retirement expenses.

    I’m talking about people with half million dollar 401(k)s that return hundreds of thousands over the course of a retirement. Some of it is principal but most of it is gains/return/interest.

    Basically if you’re able to retire in America, you’re an “owner” for those decades. Yes, there are people in America who can’t afford to retire, but most people in the middle class can.

    Also, its not the conventional way. You 100% made that up and what you’re describing is petite bougouise.

    Defining the middle class as middle incomes is pretty conventional. I think you’ve misunderstood my description of the middle class (people who fit the definition generally have income from both work and from investment) as a definition.

    So let me be perfectly clear:

    1. The American middle class, defined as those with middle incomes, earns significant amounts of money from both wages/salaries for their work and on return on their investments, especially in their primary home (with a 60+% homeownership rate) and retirement accounts (401(k)s, IRAs, 403(b)s, even multi employer or government pension funds that are paid for through investment in publicly traded securities).
    2. The worker versus owner definition you proposed near the top of this thread is insufficient to describe class, because of the large, large number of people who rely on both and could not support their existing lifestyles without both.

    And hey, I was gonna let it go but it’s clear your autocorrect has now adopted it as a new word it will happily let you spell wrong repeatedly: it’s spelled petit bourgeois, or petit bourgeoisie for plural.


  • The median net worth of a 65-year-old in the United States is about $390k, so the income it produces is generally a modest supplement to social security. At the 75th percentile, which is also generally considered middle class, net worth is about $1.1 million and easily enough to provide a comfortable retirement lifestyle.

    The idea that someone is middle class because they’ve earned a penny in bank interest is absurd.

    No, the idea is that the middle class (defined in the conventional way) spends time in both the “worker” category and the “owner” category.

    The ordinary middle class pathway is to work for 30-50 years and then retire on their savings (or a defined contribution retirement plan) or to rely on a defined benefit pension fund that is itself invested in securities, aka capital. This is the baseline expectation of retirement planning for the middle class in the U.S.: the investments/savings provide the cash to live on, while ownership of the primary residence shields the retiree from certain housing costs, or can provide cash flow through a reverse mortgage.

    Through the power of compounding, a 40+ year savings plan generally increases its value over time so that the vast majority of the value comes from return on investment rather than invested principal.

    If you want specific calculations, we can do that to show that the typical middle class path takes in more than “a very small amount” in their retirement savings/investments.

    Or are you planning on coming back with a load of caveats

    These details are obvious from my first comment in this thread, that the middle class in the United States works its way into an “ownership class” in time for retirement, through savings/investment. That’s exactly what I meant in that comment, and spelling it out makes it pretty clear what I meant at that time, and that I haven’t shifted my position in this thread.


  • Its not my definition. Its a different school of thought that has stood up to scrutiny. It is different to what a lot of people would refer to as middle class and, of course, different again from what you, personally describe middle class to be.

    I’m specifically pointing out the problem with the “how they earn income” definition, that it seemingly assumes that the two categories are mutually exclusive, to try to argue that there’s no such thing as a middle class They’re not. Most people who are in what most would recognize as “middle class” under the traditional definition get income through both methods, especially over the course of their lifetimes.

    So even under that definition, which attempts to pretend there isn’t a middle class, there is still a middle class: those who have income through both methods, or even hybrid methods (ownership of an actively managed business that allows them to earn money while working but wouldn’t earn money without their own labor).


  • Middle class generally means people whose incomes are in the middle half (ranging from 40th to 60th percentile to the 20th to 80th).

    If you want to pull out your own new definition based on whether their income comes from work or from return on investments, then I’d still point out there’s a large number of people who do both, especially when compared across the entire life cycle including retirement. So if you insist on this alternative definition, you still have to account for the big chunk of the population who do both.


  • If you work for your money, you’re part of the struggle. If you own for your money, you’re part of the problem.

    But the middle class is those who are able to leverage working for their money to accumulate capital to where they can live off of the proceeds of that owned capital. If you’re able to retire, you eventually become part of the ownership class.

    There is a shrinking middle class but the actual people in it are those who split their adult lives into eventually retiring on their wealth, accumulated through working.





  • to the downvote brigade I highly recommend go watch the full video and decide for yourself

    Yeah it’s obvious she’s weaponizing the police against a guy who she doesn’t like, by knowingly playing directly into the “police will overreact against a black guy” card, and faking panic in her voice. This is violent escalation to a non-violent situation. The faked panic is straight up sociopathic.

    People who don’t leash their dogs are assholes, and his response to that was relatively tame.

    I don’t see how you can watch this and respond the way you have, unless you’re also the type of asshole who feels entitled to walk dogs without leashes, or generally dislike black people, or are completely oblivious to the social context in which police in New York interact with black people.


  • For the U.S. at least:

    With condos, there’s a condo association that owns all the common areas. Then the association itself is owned by the owners of the units, and the management is elected by the owners.

    With co-ops, the unit owners directly own the common areas in common, and the management is also elected by the owners.

    Functionally speaking they’re very similar, and co-ops tend to exist in places where this legal structure predates the invention of homeowner associations (basically New York).



  • The order to block Twitter went to all Brazilian ISPs, and Starlink is the only one that didn’t comply on Saturday. So the escalation stems from the disregard of an order that everyone was required to obey, but the intertwined nature of both companies being controlled by Musk is both part of the reason why SpaceX would even consider not complying with local law in a country it operates in, and why the Brazilian courts seem to be willing to aggressively enforce their own orders.

    Edit: I’m convinced. This comment as originally written presented the facts out of order.