$9 million is not uber-rich.
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It is compared to the average American household wealth of $68,828.
The 2016 Phoenix Wealth and Affluent Monitor found similar trends, although it divided wealth up differently. It reported 0.9 percent of U.S. households have more than $5 million in net worth. But, they own 24 percent of the nation’s wealth. Five percent of the U.S. households own between $1 million and $4.9 million. They own 35 percent of the nation’s wealth. The 25 percent of households who have a net worth between $100,000 and $999,999 own 32 percent of total wealth. The remaining 70 percent of households have a net worth of less than $100,000, and they own 9 percent of the total U.S. wealth.
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I disagree. He may be rich but he isn’t uber-rich.
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Is “uber rich” less than or greater than “filthy rich”? 
What adjective would you use to describe the wealth of a household with a net worth greater than 99% of all other American households?
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I agree that Beto is well-off compared to most Americans, but the uber-rich live in an entirely different world of isolation from normal society. He doesn’t appear to be rich enough to have lost touch with reality. And that’s all I care about.
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@georgeh and I disagreed about this use of the term.
But it’s only a detail – there is a larger point.
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He’s spent a whole lot of time driving around Texas and New Mexico making sure he is in touch. He also has spent a lot of time at the border.
He is way more wealthy than just “well-off.” And the idea that “he doesn’t appear to be rich enough to have lost touch with reality” is based on what information? What amount of wealth causes one to lose touch with reality?
It should also be noted that the majority of his wealth came from his wife and wife’s family. He earned relatively very little of it.
He knows who buttered his toast.
I guess when you’re uber wealthy you can afford to spend a whole lot of time driving around. That doesn’t make one in-touch. Figuring out how to pay medical bills, food, rent, and clothing on a low-paying job is a much better way to be in-touch with the lives of most Americans.
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Based on what I see him doing? I dunno… this is one of those “you know it when you see it” things, and I’ve known some severely out-of-touch uber wealthy people. I don’t move in those circles myself (I wish!), but I was in business floating around the edges of that scene. It’s different, believe me.
If you’re looking for someone running for President without a financial cushion of some sort, good luck with that.
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According to the Fed (last survey, 2016):
Household net worth (average): $692K
Household net worth (median): $97K
I imagine you want to use the median.
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More than I have, obviously.
Silly puppy.
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I used the numbers from here:
The median isn’t skewed by America’s non-gaussian wealth distribution curve, so probably a better number to use.
So O’Rourke’s household wealth is only 93 times the median American household wealth.
Thanks.
I am told fairly regularly here that I am not in touch with reality, so perhaps I should attribute it to my decidedly un-uber wealth. Must be enough, I guess. I’m going to go drive around tomorrow to get back in touch.
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I see, and it’s older data, from the last Census, but the number you cited:
appears to be not for households but for individuals (according to the article you reference).
A clearer view of the Census Bureau’s estimates over time (2000-2011):
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I’ve heard that’s a good way to do it.
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Let me be clear - I don’t know why Obama tried consensus building his first term despite promises of GOP to make him one term POTUS, bad faith, etc.
I think a lot has to do that he is a consensus builder (which Beto seems to be as well). As the peacemaker in my family I understand that.
The adage that when all you have is a hammer everything looks like a nail applies - some problems aren’t solvable by consensus.
As someone who really got into 7 Habits years ago it took me a long time to realize Mr Covey hadn’t addressed how to apply them to dealing with Republicans since his work assumes everyone’s dealing in good faith.
While I think Obama will go down in history as our greatest modern president I also think historians will be debating why he tried consensus for so long when it was clear that it wasn’t possible.
This is going to be an interesting primary season because it looks like just about all of the Democratic candidates have raised some decent money.Nearly all of them are going to stay in the race at least through the first primaries.
Unlike the 2016 Republican field nearly all of the Democratic hopefuls are folks with ideas. I wonder if Sanders, Biden and Warren can keep up with the new kids on the block, but we will see.
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I continue to think the alleged yearning for consensus is greatly exaggerated. Small example: Is it or is it not the case that the PPACA was signed in March of 2010, about 14 months after Obama was inaugurated, with 220-215 in the House and 60-39 in the Senate? Zero Republican votes. Is this Obambi seeking consensus like a naif, or is it the fascist Obama jamming the ACA down the throats of people who didn’t want it? I think neither characterization is true, but the reality is closer to the latter. A month after the vote, Scott Brown came in, and it would have failed, so it was literally passed with the bare minimum. Every president without exception makes mistakes of judgment. But this vain seeking after consensus, I continue to simply not see it, beyond how anyone would wish to make the best, most widely beneficial choice. And I don’t accept it just because people say it. People including very bright people often simply assume stuff they hear around is true. And whoops, sometimes it isn’t.
Warren.
Dear heart, lying really doesn’t make your case. I suggest you grow the fuck up and stop before you completely destroy what tiny reputation you have left here.
Yes. My understanding ACA was designed to pull in R votes, that if we knew (which we obviously didn’t) that no R wouldn’t vote for it we’d have gone a different route.
I’m not sure why you’re upset by this - I actually think in general consensus is better than command driven and I’m a fan of PBO. I just think like the rest of us he’s human and stumbled in some regards.
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