The actual numbers are surprising though. 1. Most of the decrease in the middle class was driven by MC people moving to the upper class So 2. The ratio of lower class to upper class is actually lower than in the 70s.

Interesting point I never considered. Is the cut off for UC really just 1 million dollars in net worth? Seems implausible given house prices in places like California. Is essentially every home owner UC?

Net worth means after debt is subtracted.

If I convinced the bank to loan me 1 million dollars for a 1 million dollar house, my net worth would remain unchanged.

https://wikipedia.org/wiki/Net_worth

I think the bigger inequality we experience is less about individual income, and more an inequality that giant corporations run so much of the world and the people have so little representation & agency.

Watching your epi-pens go from $35 to $700 is a stark & present reminder that the very wealthy corporations are predatory as fuck, and that you are prey. And that nothing will save you. (Short of Linda Khan & the FTC starting actual anti-trust activities again.)

Seen Incorporated on Apple TV?