🚨🚨 THREAD TIME 🚨🚨
let's talk about the differences between income, wealth, and class
tl;dr: income is earned, wealth is bought, and class is inherited
also hi friends, while on the topic of income, this work is my only source of it! times are tough and folks are really struggling, but if you have a couple extra bucks please consider sending a tip my way
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INCOME is the amount of money a person makes from labor and investments
so if you work for 2,000 hours and are paid $40,000 in a year, that's income
OR if you have a $1,000,000 stock portfolio with a 5% return rate and cash out $40,000 of it, that's income too (fucked, right?)
WEALTH is the amount of capital you own
that could be owning a house and land worth $150,000
or owning a small business with $150,000 in assets
or owning $150,000 worth of stocks
wealth is the investments that are themselves accruing value
CLASS is about what you stand to inherit
in the united states we use a lot of weird doublespeak to avoid talking about the proletariat, the petit bourgeoisie, and the bourgeoisie directly
proletariat ~ working class
petit bourgeoisie ~ middle class
bourgeoisie ~ upper class