In a 2020 CNBC survey, “financial elites” refer to those with $50,000 or more in investments and an annual household income of $75,000 or greater

In a May 2016 commentary in Business Times, Robert J Samuelson pointed out that in terms of annual household income the US “families” can be classified into 3 segments:

• above 100k: 25% of US Population belongs to households earning above 100k
• 40k to 100k: 1/3 of US population belongs to households earning within this range
• below 40k: 40% of US POPULATION belongs to households earning below 40k

These are easy numbers to remember. Note in economic science, there are exact definitions of “household”. I will just call them “families”.

AVERAGE household income is skewed by the wealthy outliers (“average GS bonus” shit). Instead, let’s talk about median household income. As of 2013, US median household income is about $43k pretax.

— typical U.S. household cash flow level, as reflected in the Mar 2020 $2 trillion covid19 rescue package

• The /bill/ provides one-time payments of up to $1,200 for most individuals and $2,400 for most married couples filing jointly, with an extra $500 for each child. A family of four would receive $3000.
• /Assistance/ starts to phase out for individuals earning more than $75,000 (ending altogether for those earning more than $99,000) and for couples with more than $150,000 in income,

I’m surprised that a one-time $2k 红包 would mean a lot for many U.S. families.

It then dawned on me that my fellow ibank tech professionals are a wealthy privileged class in this society.