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by DoughnutHole 1271 days ago
> The delta between service worker and say tech is far less than the delta between that collective average and the top of the financial food chain.

True when we think purely in terms of wealth and income, but I'd say the reverse is true in terms of quality of life.

A SV tech worker earning six figures has food and housing security, likely has insurance and dental, has a 401k, is possibly building wealth with stock options, likely has a long term achievable plan to buy a home if they don't own one already, has an emergency fund. They can afford to live in a safe area and send their kids to a good school. That's a lot of vital needs satisfied, many (maybe even most) of which are not fulfilled for the average minimum wage service worker. A huge number of people are one missed wage payment away from poverty.

Sure, Elon Musk has a private jet and can fly anywhere he wants every day of the week. But his fundamental needs (physiological, safety, security) are basically met just as well as mine.

The concentration of wealth at the very top is deeply concerning and potentially destabilising. But I think it's worth remembering the differences between the secure end of the middle class and the bottom half society.