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View Diary: Won't someone PLEASE think of the 'poor rich' people? (90 comments)

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  •  I wouldn't focus on the top 20% (1+ / 0-)
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    greengemini

    More like the top 1% or top fraction of 1% is where you see lots of accumulated wealth, stock options, houses all over, etc.

    The top 20% (the top quintile) starts at about $90k in household income.  That's not an outlandish income for a couple where both spouse work as say teachers or cops.  The middle 20% (the third quintile, or the most representative of the "middle class") tops out at roughly $60k in household income.

    So there roughly $30k in income that separates the top of the middle quintile, from the bottom of the top quintile.  I think that's a much lower spread there than the spread between the bottom of the top quintile, and the bottom of the 1% (starting around $370k).  A family bringing in $90k a year is comfortable for sure, but there's many areas of the country where they couldn't buy one house, much less several.

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