Posted 2/2/2024, 11:17:00 AM
TikToker: Today's Middle Class 'Already Dead'; $500K-$1M Income Needed to Be 'Doing Well'
- TikToker argues inflation much worse than reported - claims middle class is "already dead" and you need to earn $500K-$1M to be doing well
- Compares 1950 vs today median income up but home/car prices have risen much more
- Says middle class in 1950 was 2.5x annual income for home & car. That's equivalent to $173K today.
- States $173K today just brings you to middle class lifestyle. "$500K-$1M" needed to be truly "doing well."
- Top 5% income threshold today is $295K+ - still below his "doing well" range