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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (168597)	8/9/2011 11:41:50 PM
From: Brumar89	Read Replies (1) \| Respond to of 544190

I note that the articles decrying the top 1% don't give the cutoff to be in the wealthiest 1% of assets. Most people probably assume the richest 1% is made up of superrich idle folks who jet around the country from summer home to winter home .... like the Heinz-Kerrys. But actually most of the wealthist 1% I think are small business owners, retirees from professions or successful careers, farmers. And I suspect the cutoff is low enough a fellow who inherits a parents home in someplace like CA would automatically be in that top 1% of the nation. As for me, I certainly think I'm in the top 1% in assets. I think of our kids and aged parents with very low net worths and think boy, if you did a study just on my relatives, I'd clearly be in the top group and everyone else would be pretty poor. Yet that steep statistical inequality simply reflects our life status, age and career.