is it easier/harder for a poor man to become middle class or a middle class man to become rich? obviously poor to rich(ie american dream) is the hardest, especially in this day and age.
Well, we live in Canada so the American Dream doesn't really apply to us...but either way...although both my parents grew up in working middle class families (my grandfather owned a shoe repair shop :P), they both now have 6 figure salaries. I would say it's easiest to go from middle class to "rich" (relatively speaking), because you get a better foundation laid in the middle class (schooling, college, etc.).
Clearly it is easier to go from poor to middle than from middle to rich. Taking into account all of Canada's subsidies and programs for the poor; you really have to try hard not to be poor.
Now consider the middle class scenario: the middle class gets the shit taxed out of it because the Canadian government finds it appropriate to help the poor. And just because you have the foundation laid out for you as a member of the middle class does not make it easier for you to become rich. It may be one of many things, but there are no guarantees attached to obtaining an education.
With being "poor", I can receive welfare, live in subsidized housing, and pay less tax (while doing nice little under-the-table jobs to compensate for my "poorness"). Not at all that bad of an option if you qualify. Almost motivates me to not show my income and eat sardines for breakfast and dinner . . . . . almost.
P.S.: This is exactly my one-hundredth post. WOOOHOOO!!! :shade: :thumbs_up: :star: :cocktail: :beer: :confused:
Then click income mobility, then go to country by country. They say France, Canada, and Denmark have got us beat. But we are ahead of the UK. Another reason to love Denmark (btw I really love Denmark).
Going from poor to middle class is WAY easier. This isn't even a debate. Someone's status as "rich" is based largely on their ability to obtain positional goods and services; i.e. goods and services 99% of people can't afford. Middle class as a group has the capacity to grow, where as being "rich" will always be defined as a scarce group of indivinduals who have what the vast majority of others don't. Again, this is to be considered truly rich in society's eyes. Going from lower middle class to upper middle class is about as easy (or as hard) as going from poor to lower middle class.
My goal is NOT to worry about positional goods and social status. If I can make an upper middle class income, I can save and invest in such a way that I can move into the top 1% on a net worth basis. But I won't be able to live a luxurious lifestyle on the way, which is fine cuz I've lived in the hood long enough. My goal is for my kids to have the life I never had.
My goal is NOT to worry about positional goods and social status. If I can make an upper middle class income, I can save and invest in such a way that I can move into the top 1% on a net worth basis. But I won't be able to live a luxurious lifestyle on the way, which is fine cuz I've lived in the hood long enough. My goal is for my kids to have the life I never had.
And if you wouldn't mind elaborating where you'll invest your money, I would more than appreciate it :teeth:
However, as ambitious and as admirable as your goal sounds prodigy, I doubt you'll (or anyone in the middle class) make it to the top 1% or 5% or perhaps even 10% (I don't mean to be disheartening or insulting, but that's just life).
In our society, where you start is pretty much where you will end up. There is some variation (a few mess up while a few go further than from where they started), but for the most part, I would say perhaps 0.0001% make it from middle to rich given their middle-class opportunities.
Comments
I can understand what you're asking, but without clearer guidelines (ie. salary range,) this is too broad imo
:omg:
Now consider the middle class scenario: the middle class gets the shit taxed out of it because the Canadian government finds it appropriate to help the poor. And just because you have the foundation laid out for you as a member of the middle class does not make it easier for you to become rich. It may be one of many things, but there are no guarantees attached to obtaining an education.
With being "poor", I can receive welfare, live in subsidized housing, and pay less tax (while doing nice little under-the-table jobs to compensate for my "poorness"). Not at all that bad of an option if you qualify. Almost motivates me to not show my income and eat sardines for breakfast and dinner . . . . . almost.
P.S.: This is exactly my one-hundredth post. WOOOHOOO!!! :shade: :thumbs_up: :star: :cocktail: :beer: :confused:
http://www.nytimes.com/packages/html/national/20050515_CLASS_GRAPHIC/index_02.html
Then click income mobility, then go to country by country. They say France, Canada, and Denmark have got us beat. But we are ahead of the UK. Another reason to love Denmark (btw I really love Denmark).
My goal is NOT to worry about positional goods and social status. If I can make an upper middle class income, I can save and invest in such a way that I can move into the top 1% on a net worth basis. But I won't be able to live a luxurious lifestyle on the way, which is fine cuz I've lived in the hood long enough. My goal is for my kids to have the life I never had.
That's what you call confidence. lol
However, as ambitious and as admirable as your goal sounds prodigy, I doubt you'll (or anyone in the middle class) make it to the top 1% or 5% or perhaps even 10% (I don't mean to be disheartening or insulting, but that's just life).
In our society, where you start is pretty much where you will end up. There is some variation (a few mess up while a few go further than from where they started), but for the most part, I would say perhaps 0.0001% make it from middle to rich given their middle-class opportunities.