Interesting take on rich vs uber rich. I grew up in an area with a lot of that 90th-95th percentile group but everyone seemed to believe they were "upper middle" class. The "rich" people were the few at the very top making millions more.
A family making 250k/year is doing very well, but when they look at someone making a few million - they don't group themselves in that category.
I also wonder if this is reinforced by the numerous 'reality' tv shows that document the uber rich lifestyle. Even in a town full of people that are well above average, no one is living like those top 1-2% of earners and therefore don't consider themselves rich.
A family making 250k/year is doing very well, but when they look at someone making a few million - they don't group themselves in that category.
I also wonder if this is reinforced by the numerous 'reality' tv shows that document the uber rich lifestyle. Even in a town full of people that are well above average, no one is living like those top 1-2% of earners and therefore don't consider themselves rich.