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I guess it depends on where one lives. $200k in MI is a pretty good living, in Santa Cruz CA, or Manhattan NY probably not so good.
I don't know many millionaires but the few I do aren't too far from the average person. One is in sales, the other owns an electrical contracting company and the other owns a machine shop. All started out as just average people. So, it's hard for me to think they are "light years" from the upper middle class.
I might be way off but I think lower middle class starts somewhere around $100-200k and the upper middle class would be around a million...at least here in MI.
I am in the suburbs of NYC and agree with you. People see 250K and think that those people can be taxed at crazy rates not realizing that in some parts of the country that is just scrapping by (for a family).
Medicare for all would save this country over 500 billion a year and 68,000 lives a year according to this study done by Yale and other University researchers.
To paraphrase Amy Klobuchar- it doesn't matter what Bernie's programs cost, he doesn't have enough votes among the Democratic caucus to move them forward. They will be DOA.
I guess it depends on where one lives. $200k in MI is a pretty good living, in Santa Cruz CA, or Manhattan NY probably not so good.
I don't know many millionaires but the few I do aren't too far from the average person. One is in sales, the other owns an electrical contracting company and the other owns a machine shop. All started out as just average people. So, it's hard for me to think they are "light years" from the upper middle class.
I might be way off but I think lower middle class starts somewhere around $100-200k and the upper middle class would be around a million...at least here in MI.
In 3016, 28% of households made $100,000 or more. The accepted definition of the middle-class is $40,000 to $122,000, so you do the math as to whether you think that is middle-class.
I guess it depends on where one lives. $200k in MI is a pretty good living, in Santa Cruz CA, or Manhattan NY probably not so good.
I don't know many millionaires but the few I do aren't too far from the average person. One is in sales, the other owns an electrical contracting company and the other owns a machine shop. All started out as just average people. So, it's hard for me to think they are "light years" from the upper middle class.
I might be way off but I think lower middle class starts somewhere around $100-200k and the upper middle class would be around a million...at least here in MI.
I was in a recent meeting- the upper 1% starts around 475K per year. So $1million per year is well above upper middle class. And I'm not sure where (aside from Manhattan, San Francisco, Seattle) 100-200k per year is lower middle class.
Anybody cluing in on the coronavirus pandemic which threatens to sweep the world? This can and will change everything. Put 30 million in the hospital with this thing, and the health care bills alone would bankrupt America. Bernie will be looking, very, very good at this point.
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Quote:
Originally Posted by EastwardBound
In 3016, 28% of households made $100,000 or more. The accepted definition of the middle-class is $40,000 to $122,000, so you do the math as to whether you think that is middle-class.
28% of households, but only 5% of individuals, for the $100k mark
28% of households, but only 5% of individuals, for the $100k mark
I think we're arguing the same point here. My point is that there are a lot of households struggling. Many of us are making over $100,000 through a combination of hard work and luck. My partner and I make up one of those households and with tax breaks and deductions, we really do not pay that much in tax. I think we could pay a bit more, personally. We could still afford our second investment home and to do as we wish by paying just a bit more.
Anybody cluing in on the coronavirus pandemic which threatens to sweep the world? This can and will change everything. Put 30 million in the hospital with this thing, and the health care bills alone would bankrupt America. Bernie will be looking, very, very good at this point.
Something to ponder ...
Americans pay for their healthcare every year, for everyone. I am not sure what you think Bernie is doing?
In 3016, 28% of households made $100,000 or more. The accepted definition of the middle-class is $40,000 to $122,000, so you do the math as to whether you think that is middle-class.
Quote:
Originally Posted by mrpeatie
I was in a recent meeting- the upper 1% starts around 475K per year. So $1million per year is well above upper middle class. And I'm not sure where (aside from Manhattan, San Francisco, Seattle) 100-200k per year is lower middle class.
Fair enough. Maybe it is just the area I live in. 90% of the people I know are at or above the six figure mark. These make up skilled trades, business owners, sales people , designers and engineers. Some of the people I know working the line are at the six figure mark. It really makes that 28% number hard to believe.
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