> there are plenty of middle class living pay check to pay check and do not own things
And there are plenty of the very rich who go bankrupt and die penniless.
Someone relying solely on income from labour to sustain their standard of living may live as the middle class do, just as a poor person accumulating debt may sustain a middle-class lifestyle, but that doesn’t change their fundamental economic situation.
Also: When middle class folk talk about living paycheck to paycheck, they’re usually ignoring retirement assets. But I don’t deny that plenty of people consume their economic security because they, and many times rightly, don’t believe they need it.
And there are plenty of the very rich who go bankrupt and die penniless.
Someone relying solely on income from labour to sustain their standard of living may live as the middle class do, just as a poor person accumulating debt may sustain a middle-class lifestyle, but that doesn’t change their fundamental economic situation.
Also: When middle class folk talk about living paycheck to paycheck, they’re usually ignoring retirement assets. But I don’t deny that plenty of people consume their economic security because they, and many times rightly, don’t believe they need it.