| numonex said: Top 1% have more wealth than the bottom 95% of society. The 4% just below the Top 1% and above the bottom 95% are the real Middle Class. It is not called shrinking middle class for nothing. A billionaire would be in the Top 1%. The multi-millionaires would be in the next 4% making up the remaining top 5%. Bottom 95% of society are the working class and working poor, poor and super poor. |
Poverty is not being able to adequately cover the essential needs of life, not being unable to have the excessive level of luxury that other people have obtained; it means being unable to cover food, clothing and shelter adequately not being unable to eat steak and lobster, wear trendy brand name clothing, and live in a McMansion. Realistically, the true poverty rate in most western developed nations is under 10% of the population; and probably closer to 0% than 10%.
