alt Hacker Newsit feels like every share of income is at its lowest except for the ultra wealthy.
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The annoying/sad/infuriating thing is the ultra wealthy don’t have “income.” Technically, according to IRS rules, much of what they experience (housing, food, etc) should be classified as income. But their lawyers and accountants help them keep that looking quite low.
It’s not. There are plenty of non-wealthy people who make money from things other than their labor.
Small-time landlords are an example, as would be anyone who owns a small business and draws cash from profits rather than taking a salary.
Not at all. The real estate share of income is probably at its highest among a lot of people who belong to the non-labouring class, but are far from ultra wealthy. But it's nice to have a scapegoat, isn't it?
It's not necessarily limited to the ultra wealthy, but outside of a few key areas (as someone mentions, those profiting off of the inflationary spike, those in the real estate market, etc) it is more or less the case, yes.