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I am middle class, I work for a living. I make low 3 digits. My working hours are 9:30-5:30, I set my alarm to 9 A.M. Obamacare gives me no favors, and I get to keep 60% from what I earn (the rest is taxes).
The Wikipedia chart is a total absurdity. It lists "middle class" as a household taxable income of $95,000 to $140,000. What is it about the word "middle" that is so hard to understand? All one has to do to grasp the absurdity is look at the median household income nation-wide. Why is the upper middle class in denial about how good they have it? Why do they insist that they are middle class?
1. They assume two income earners, not one.
2. Median is higher if you exclude those without full time jobs at all.
I think it's actually fairly reasonable given those considerations.
The modern Middle Class in the United States has a generally comfortable standard of life - reliable, usually newer-model cars, adequate housing that is typically owned rather than rented, at least one bachelor's degree (at least in the younger households), and some disposable income; however, student debt is an issue for younger members of this class. The middle class is tied with the working class in terms of share of population. Typical Middle Class occupations are registered nurses, schoolteachers, police officers, etc.
The Upper Middle Class is a step above the Middle Class in terms of occupational prestige and household income, but still have to work to maintain their lifestyle. This is the class where most doctors and lawyers can be placed. Advanced education is very common, and along with the educational advantage often comes refined taste in things like art, music, and food. This class makes up a much smaller proportion of the population than the middle class. I'll end my description there.
Middle class values include a strong emphasis on education, emphasis on creativity or novelty rather than repetitive labor or rote learning, and questioning of authority figures and traditions.
According to the Wikipedia charts, I a guess I am lower middle class. I own a home and have a college degree (two in fact), but my income is (before taxes) $90k a year... so I guess I fulfill 2/3 call in lower middle, that's what I am.
But I am also a single mom with one child, so $90k a year is more than enough. I say more than enough because I save 30% of my income (just increased it this month), have no debt other than a mortgage, and I have everything I need and can obtain most things I want (I might not be able to get what I want right away, it might take years to get it, but for the most part, a little saving and effort and I can set a goal to get something I want and achieve it... which is a great feeling by the way).
I suppose that's what I like about being middle class. The security of knowing I can afford everything I truly need.
The Wikipedia chart is a total absurdity. It lists "middle class" as a household taxable income of $95,000 to $140,000. What is it about the word "middle" that is so hard to understand? All one has to do to grasp the absurdity is look at the median household income nation-wide. Why is the upper middle class in denial about how good they have it? Why do they insist that they are middle class?
The chart is hilarious. Not really, if anyone takes it seriously. A person making 20-40K is too poor to own a car?! What about "working class" who own multiple income properties, maybe old houses they fixed up themselves.
The high income earners are not middle class. It's all out of whack. 100K is lower middle class? Funny. The 1984 chart is a little better but not much. Then again, what is "ubber" rich? Is that like ubber middle class but way better-er?
It's pretty awful to categorize like that when it reflects nothing that makes any sense. And if that mentality actually gets picked up by people who might vote, you have a real mess of fantastical craziness. Please let us not be this stupid. The chart, it's a joke. Someone did it for fun. Ubber fun.
I know neighbors who actually are middle class make like 120K. Yet they put a new kitchen in, took a European vacation and bought a new car in last 24 months. Basically they spend like rich folk.
I also know a guy who drives a minvan, shops at Kohls, only drinks the free coffee at work as "Starbucks" is for rich folk who lives in a 60 by 100 split level house in a middle class block with his wife and four kids who actually makes five million a year. It is a lifestyle not an income level.
The Wikipedia chart is a total absurdity. It lists "middle class" as a household taxable income of $95,000 to $140,000. What is it about the word "middle" that is so hard to understand? All one has to do to grasp the absurdity is look at the median household income nation-wide. Why is the upper middle class in denial about how good they have it? Why do they insist that they are middle class?
Is it hard for you to understand that middle class is a socioeconomic term. It isn't a synonym for "middle income," nor for "median income."
The chart is hilarious. Not really, if anyone takes it seriously. A person making 20-40K is too poor to own a car?! What about "working class" who own multiple income properties, maybe old houses they fixed up themselves.
It would be tough to own a car if you have TWO ADULTS on an income below 40k, but maybe not impossible.
If it is a SINGLE person making in the mid to upper 30's, they shouldn't have that much trouble if they want to own a car.
If it is THREE ADULTS (e.g. two parents and an adult child), an income of below 40k is really tough and it is VERY unlikely they can afford a car.
Household size does matter and a lot of people forget that.
Quote:
Originally Posted by tamajane
The high income earners are not middle class. It's all out of whack. 100K is lower middle class? Funny. The 1984 chart is a little better but not much. Then again, what is "ubber" rich? Is that like ubber middle class but way better-er?
It's pretty awful to categorize like that when it reflects nothing that makes any sense. And if that mentality actually gets picked up by people who might vote, you have a real mess of fantastical craziness. Please let us not be this stupid. The chart, it's a joke. Someone did it for fun. Ubber fun.
Again, it depends on household size.
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