U.S. Income class hierarchy (student loan, 2009, interest, tax)

[UrbanQuest]

After alot of research on this issue that has many, many claiming to be experts etc and including government data as well.... Here is my conglomeration of all that information a researched into what I believe are the income classes in the U.S.

Lower Class/Poor: $0 - $22,000

Lower Middle Class: $22,000 - $45,500

Middle Class: $45,500 - $117,450

Upper Middle Class: $117,450 - $500,000

Lower Upper Class: $500,000 - $3,000,000

Upper Class: $3,000,000 - $25,000,000

Super Rich: $25,000,000+

It also seems the Lower Middle Class and the Lower Upper Class are the most disgruntled.

[Future Trooper]

I think that is pretty accurate

I fall under Middle Class

[HappyTexan]

I'll tell ya..if I were lower upper making $500K a year I wouldn't be disgruntled

[usmcfamily]

Originally Posted by UrbanQuest

After alot of research on this issue that has many, many claiming to be experts etc and including government data as well.... Here is my conglomeration of all that information a researched into what I believe are the income classes in the U.S.

Lower Class/Poor: $0 - $22,000

Lower Middle Class: $22,000 - $45,500

Middle Class: $45,500 - $117,450

Upper Middle Class: $117,450 - $500,000

Lower Upper Class: $500,000 - $3,000,000

Upper Class: $3,000,000 - $25,000,000

Super Rich: $25,000,000+

It also seems the Lower Middle Class and the Lower Upper Class are the most disgruntled.

Dang, if my income was even close to 500k (which it isn't) I wouldn't consider myself middle class, no matter how upper it is! That's a lot of money to make a year....

Shows what I know!

[qjane82]

Nice try, but that's too simplistic. Cost of living is drastically different in some areas

N.Y.C. so costly you need to earn six figures to make middle class

The study, released Thursday by the Center for an Urban Future, shows that New York City is hands-down the most expensive place to live in the country.


Among the findings:

• A New Yorker would have to make $123,322 a year to have the same standard of living as someone making $50,000 in Houston.
• In Manhattan, a $60,000 salary is equivalent to someone making $26,092 in Atlanta.
• You knew it was expensive to live in Manhattan, but Queens? The report tagged Queens the fifth most expensive urban area in the country.
• The average monthly rent in New York is $2,801, 53% higher than San Francisco, the second most expensive city in the country.

“Income levels that would enable a very comfortable lifestyle in other locales barely suffice to provide the basics in New York City,” the report concludes.

http://www.nydailynews.com/money/2009/02/05/2009-02-05_nyc_so_costly_you_need_to_earn_six_figur.html

[susancruzs]

Interesting chart, nice to know now that I'm not working, I'm lower middle and alot of seniors I know fall in the very bottom!

[texdav]

Also with lower class that only counts income and not teh subsidises that thewy can get from governamnt. Even poverty last I heard below 18000 did not count them.

[calmdude]

Originally Posted by UrbanQuest

After alot of research on this issue that has many, many claiming to be experts etc and including government data as well.... Here is my conglomeration of all that information a researched into what I believe are the income classes in the U.S.

Lower Class/Poor: $0 - $22,000

Lower Middle Class: $22,000 - $45,500

Middle Class: $45,500 - $117,450

Upper Middle Class: $117,450 - $500,000

Lower Upper Class: $500,000 - $3,000,000

Upper Class: $3,000,000 - $25,000,000

Super Rich: $25,000,000+

It also seems the Lower Middle Class and the Lower Upper Class are the most disgruntled.

Nice classification.

BTW, I would think that the Upper Middle class would also be disgruntled because the proposed tax increase hits them harder than the classes above them. $200-350k part of the upper middle class is the "working affluent" - and though may be well-off, may not necessarily be very rich in terms of accumulated wealth.

[revelated]

I agree with the statement that your chart is inaccurate, solely because the classes are location specific and defined by where you live.

In Stamford CT for example, I guarantee you that your middle class ranking is chump change.

This scale is applicable in some of the outer areas of Colorado, smaller cities of Washington State, Montana, etc. Not going to fly in major states or cities at all.

[qjane82]

Originally Posted by revelated

I agree with the statement that your chart is inaccurate, solely because the classes are location specific and defined by where you live.

In Stamford CT for example, I guarantee you that your middle class ranking is chump change.

This scale is applicable in some of the outer areas of Colorado, smaller cities of Washington State, Montana, etc. Not going to fly in major states or cities at all.

Especially if you start putting it in the context of six figured student loans or if you have dependents and/or kids to put through college...