The Way Forward

Many places, a person who bought when young and working class is now living in a million plus home, and if they've been responsible, it was paid off long ago. Millionaire doesn't mean much anymore. Before people can run for congress the party often asks how much they can self fund.

High net worth families on the other hand have a million in liquid assets.

Being in either of these two groups does not mean one is greedy. People acquire wealth many ways. Some have high incomes, others live well within their means and invest, others inherit. And then there is income.....

High income is often considered the top 20% of earners in the US. I think that income begins at around $150 thousand.

Currently the Democratic Party has adopted the slogan affordable to appeal across many income groups. In NYC for instance young people in the top 10% of income live amongst billionaires or at least multi multi millionaires, and when the high earners see others leave for the summer, or take a couple weeks to go skiing in Italy, or eat at very expensive restaurants 6 days a week, pay six digit tuitions for primary schools, etc, those well to do people are envious, they figure with a masters degree from a good college they too should be wealthy, yet they have to scrimp to pay half their salary for a very nice place to rent. So they are supportive of "affordable" like rent control.

Milliounaires, high net worth, and high income, not always the same person.