Posted on Oct 23, 2015
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American economists place the starting point for being able to afford a "middle class" life style at $50,000 a year. (The upper limit is $140,000 a year.)
The US government says that around 72% of all Americans earn less than that, that around 24% of Americans earn between that and $140,000, and that around 4% earn more than $140,000.
How much "in the middle" is the "middle class"?
https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2014
The US government says that around 72% of all Americans earn less than that, that around 24% of Americans earn between that and $140,000, and that around 4% earn more than $140,000.
How much "in the middle" is the "middle class"?
https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2014
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Edited 9 y ago
Posted 9 y ago
Responses: 16
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COL Ted Mc I would agree, with the inflation increasing and the economy uncertain I would assume so.
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I would suspect the "middle class" marker varies by region/state. 50k in San Diego doesn't go very far - but I would venture to say 50k in Montana/Wyoming/South and North Dakota, might go a bit farther.
I do find it a bit disturbing that only 4% of the labor force earns 140K/yr or more.
I do find it a bit disturbing that only 4% of the labor force earns 140K/yr or more.
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SSgt Christopher Brose
You don't even have to go to another state to see the stretching/shrinking dollar. The housing prices alone differ widely between Seattle and Spokane Valley, Dallas and San Angelo, San Diego and Humboldt, New York and Buffalo, etc.
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My wife, daughter, and I live fairly comfortably on 25K a year. We don't have luxuries, we don't waste money on satellite TV, we drive used cars, and we don't rack up debt. So yes, I see $50k/year approaching the middle class, if not in it, it certainly isn't "lower class".
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COL Ted Mc
SPC(P) (Join to see) - Spec; YOU may see yourself as "middle class" but, unfortunately, your lifestyle isn't what the economists (and advertising agencies) define as "middle class".
On the other hand, I suspect that you are tempted (frequently) to tell the economists (and advertising agencies) to "Take It and Stick It" - for which I salute you.
On the other hand, I suspect that you are tempted (frequently) to tell the economists (and advertising agencies) to "Take It and Stick It" - for which I salute you.
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SPC(P) (Join to see)
COL Ted Mc Sir, I know I'm not middle class, just saying if I can live comfortably on my wages that doubling my income should certainly equate to at least upper lower class... and yes, I love being able to tell economists to take it and stick it haha.
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COL Ted Mc
SPC(P) (Join to see) - Spec; If more people "lived comfortably on their wages" the country would be in one hell of a lot better shape - socially. Economically? I'm not so sure.
When you consider "opportunity cost" for adding a second income to a family (especially if the second income is a minimum wage one, there is a good possibility that the family is actually enjoying a LOWER standard of living than they would have had without the second income.
When you consider "opportunity cost" for adding a second income to a family (especially if the second income is a minimum wage one, there is a good possibility that the family is actually enjoying a LOWER standard of living than they would have had without the second income.
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