Posted on 01/10/2020 12:51:45 PM PST by Oldeconomybuyer
To achieve the American Dream, it helps to be filthy rich. That's the upshot of a new survey that found nearly three-quarters of the top 1% of income earners in the U.S. think they've reached that classic, if somewhat hazy, benchmark of economic success and independence. By contrast, only 37% of those in the middle class believe they're living the dream.
The top 1% - who earn at least $500,000 annually - are living "dramatically different life experiences" than middle- and low-income Americans, according to a poll from Harvard's T.H. Chan School of Public Health, the Robert Wood Johnson Foundation and National Public Radio.
Additionally, about 3 of 10 lower-income Americans and 1 in 10 middle-income respondents said they have struggled to buy food in recent years. (Lower-income is defined as earning less than $35,000 per year, while middle income respondents earn between $35,000 to $99,999 annually.) Lower- and middle-income respondents were also more likely to say they struggled to pay for housing than wealthier Americans.
Most Americans say there's too much income inequality today, according to a poll released Thursday by the Pew Research Center. But it's unclear whether there's the political will to address it, with fewer than half believing it should be a top priority of the federal government. Instead, issues such as climate change and affordable health care are ranked as more pressing problems, Pew found.
(Excerpt) Read more at cbsnews.com ...
$500K a year is certainly nice but personal comfort and financial independence arrive at a far lower level for anyone with a reasonable amount of personal responsibility. I’ve never been close to that in regular income but own my home debt free, drive a 2018 Navigator that I paid cash for, and fly domestic first class on the rare occasions when I fly. Actually to need that much I’d have to be addicted gambler or a serious drug addict.
What absolute cesspool BS. Probably fewer than 1/2% of Americans ever earn that much. What “journalist”-produced feces. Anyway... the “American Dream” is that “journalists” will jump off of a tall building.
That's me and my wife. Retired, completely debt-free with a decent retirement income and investments that we worked for, and scrimped and saved for. It's a great feeling.
Although, to tell you the truth, my idea of the "American Dream" is having the freedom to live your life in the way that best comports with your ideals ... within the strictures of the law and common decency, of course.
I think this is a problem with peoples understanding of the American dream. Classically it was a house and a car. Then it changed to two cars. Now the American dream falls apart at finding a spouse. Or it falls apart with the fact that not everyone wants a car, a spouse or a house.
But the American dream was never something that required half a million in income. That may be someones dream. But thats not what is meant by the classic “American dream”.
Maybe if taxes were lowered quite alot we could afford the dream.
Not to be snarky, but we never really own anything. Own your home and cars outright? Stop paying property taxes and car registration fees and see what happens.
Lottery Winners also think they have attained The American Dream.
Totally agree. We live our lives based upon the conservative judeo/christian values we grew up with. Celebrating 52 years of our union in less than a month. And to be perfectly honest I got the better end of the bargain. She has put up with a lot. Very blessed man, I am!
Those things are not purchased with money, but with much more expensive coin.
Time,self discipline, faith, prudence, character...
Rat Media.
“Hey, you know what we haven’t played in the past hour?
The Class Warfare Card.
I never understand these statistics and comments. Is that 500k household or individual? The real kicker is high income earners marry other high income earners. That’s causing double income inequality. If high income earners would marry welfare recipients then we could help solve income inequality. Imagine the female doctor marrying the welfare guy or the CEO man marrying the drugged up trailer tramp. We could solve half of income inequality by forced marriage.
When they discuss income is it individual or household?
Sounds like a great place to live. Just don’t advertise it. I have seen a few towns in NC go over a 30 year period from your piece of heaven to upwards ~70% leftist (determined by voting results). They are attracted by the simple life, move in, ruin things, are intolerant, smarter than everyone, want to take down monuments, gun grabbers, etc.
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