What’s the current status of the Canadian economy? / Quelle est la situation actuelle de l’économie canadienne?

[resjudicata]

@kinetictony

they just care about the income/wealth divide.

Hence why we talk about lower/middle/upper income and lower (working)/middle/upper class. The former for income, the latter for wealth.

The upper class are those with wealth – the capitalists. They make their money through investing that wealth. The lower class are the workers. They make their money by working. The middle class walk the line between them, having some investable wealth, but not enough that they can stop working.

Indeed, however unlikely, a hypothetical CEO being paid a $5m/year salary with no stock or other investments is lower/working class and a retiree is upper class. The example CEO is also upper income, while the retiree may be lower income.

The classes and income tend to go hand in hand. It is much, much easier to have a high income if you have wealth (why the wealth divide is of concern) and it is much, much easier to build wealth with a high income. So, we often think of them as being the same thing, but they are not necessarily so.

 

[apostlecletusharrison]

@dwelsh718 Prob not a legit definition but in my head middle class are the ones that don’t worry about making ends meet, but aren’t buying porsches with disposable income.

 

[resjudicata]

@apostlecletusharrison I bought 5 porches last year, but then I couldn't find enough furniture to put on them and my house only has two doors so most were just sitting in the yard

 

[apostlecletusharrison]

@resjudicata Lol shit what a missing S can do. Edited

 

[mariyafrankjon]

@apostlecletusharrison That would make me middle class, but I'm the primary earner in a top 5% income household in Canada. That's a big middle.

 

[russkie]

@dwelsh718 Middle class is anyone who must work for a living. Upper class has enough passive income to not work, but might choose to still work.