ChiefsPlanet - What is middle class?

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What is middle class?

Wifey and I was watching the news last night on CBS I was out of the room but caught the end of a segment. Maybe some of you guys saw this Friday night. The article was about how we are maybe going in to a recession and how rough things are getting for middle class. They were interveiwing a couple from Cali. that one had lost thier job in real estate and how money was getting real tight...made them out to be really good people that our having a hard time getting by. Then they go in to how they are having to sell their vacation home and how in the 2 months 1 of them has been out of a job they have lost over 10k.
Now I'm real sorry about those people and all however what defines middle class? My wife and I bust our asses to make less than 100k a year and we have actually started a small side line to make a little more that's something we enjoy doing.
Now my question to you guys is what is middle class? We darn sure can't afford a vacation home nor if one of us is "laid off" are we going to lose 10k in 2 months. I'm sorry but I'm having a hard time feeling sorry for those people in California with thier rough times. I think people in the media and in Cali. our out of touch with the real people in the real world as they all live in an overpriced and over payed economy. What do you guys think?

Quote:

Originally Posted by btlook1

I'm not sure just what middle class is either. But 10 years ago 100K a year was in the top 1%

Traditionally, middle class were owners of small businesses or professionals. People with money, but not nobility. They had economic independence, but not power or social standing. We have no nobility in this country making these artificial distinctions a little harder to maintain. Nobody wants to be 'lower class' so the definition has slid. Now everybody above poverty line considers themselves middle class. Where sociologist's draw the line I have no idea.

I tend to think of middle class as corporate middle management, professionals, and small business owners.

People's egos get in the way of doing what's right. They'll do anything to appear wealthy (teaser rate mortgages, fancy car with 72 month loan, etc.). It finally comes to light that they were living on borrowed time. And they want my sympathy?

As for "middle class," that definition is tricky. A couple making $80K/year can live pretty well. If they have five kids that's another story.

Carl Peterson calls them the real fans

Isn't middle-class traditionally defined as the middle three quintiles in earnings? I don't know what that range is but am guessing that $100k may fall into it. It's always been a wide range of salaries.

all hail wikipedia...

http://en.wikipedia.org/wiki/American_middle_class

The American middle class is an ambiguously defined social class in the United States.[1][2] While concept remains largely ambiguous in popular opinion and common language use,[3][4] contemporary sociologists have put forth several, more or less congruent, theories on the American middle class. Depending on class model used, the middle class may constitute anywhere from 45% to 49% of households. Sociologists such as Dennis Gilbert of Hamilton College commonly divide the middle class into two sub-groups. Constituting roughly 15% to 20% of households is the upper or professional middle class consisting of highly educated, salaried professionals and managers. Constituting roughly one third of households is the lower middle class consisting mostly of semi-professionals, skilled craftsmen and lower level management.[5][2] Middle class persons commonly have a comfortable standard of living, significant economic security, considerable work autonomy and rely on their expertise to sustain themselves.[6]

Depends on what you are trying to support when you invoke "middle class" into a discussion.

The current crop of politicos keep refering to helping the middle class by reinstating taxes on the wealthy and lowering the tax burden on the middle class. Sounds cool....

Until you look deeper and find out the tax increases on the rich will be for those people making over $50,000.

On That basis, Id say you are rich, and as a result evil if you make over $50,000.

Here are the latest 2006 estimates from the Bureau of the Census. (The number of households seems too small, but I'm too lazy to check.)

Code:



Total:        HH in Category        % in Category        HH in Category OR Below        % in Category OR Below

Less than $10,000        8,898,696        8.0%        8,898,696        8.0%

$10,000 to $14,999        6,639,877        5.9%        15,538,573        13.9%

$15,000 to $19,999        6,222,117        5.6%        21,760,690        19.5%

$20,000 to $24,999        6,499,511        5.8%        28,260,201        25.3%

$25,000 to $29,999        6,162,001        5.5%        34,422,202        30.8%

$30,000 to $34,999        6,284,821        5.6%        40,707,023        36.5%

$35,000 to $39,999        5,733,333        5.1%        46,440,356        41.6%

$40,000 to $44,999        5,699,321        5.1%        52,139,677        46.7%

$45,000 to $49,999        5,078,803        4.6%        57,218,480        51.3%

$50,000 to $59,999        9,465,003        8.5%        66,683,483        59.7%

$60,000 to $74,999        11,756,886        10.5%        78,440,369        70.3%

$75,000 to $99,999        13,214,551        11.8%        91,654,920        82.1%

$100,000 to $124,999        7,933,973        7.1%        99,588,893        89.2%

$125,000 to $149,999        4,230,233        3.8%        103,819,126        93.0%

$150,000 to $199,999        3,981,276        3.6%        107,800,402        96.6%

$200,000 or more        3,817,000        3.4%        111,617,402        100.0%

This implies that, according to raw stats, the "middle class" should radiate outward from a household income of a little under $50,000. The middle two quartiles are going to encompass a range from about $25,000 to about $82,000 in household income, which is a pretty broad spread. The middle three quintiles would cover a bigger range from about $20,000 to about $95,000.

Using this universe, I would probably define it more narrowly as the middle third of households - $33,000 to $73,000 or so.

However, recall that there are all types of households in the country - single young people, elderly widows, empty nesters, DINKS, and others. Politicians like to pander to the traditional American image of a household that includes a sweater-wearing father, pearl-and-high-heel-wearing mother, football-playing son, and tight-cheerleader-sweater-and-short-cheerleader-skirt wearing daughter.

Those traditional family households are different, with much higher incomes. Here's their information:

Married-couple households with children under 18.

Code:



        HH in Category        % in Category        HH in Category OR Below        % in Category OR Below

Less than $10,000        363,901        1.5%        363,901        1.5%

$10,000 to $14,999        396,082        1.6%        759,983        3.1%

$15,000 to $19,999        553,348        2.3%        1,313,331        5.4%

$20,000 to $24,999        727,654        3.0%        2,040,985        8.5%

$25,000 to $29,999        804,576        3.3%        2,845,561        11.8%

$30,000 to $34,999        952,683        3.9%        3,798,244        15.7%

$35,000 to $39,999        968,108        4.0%        4,766,352        19.7%

$40,000 to $44,999        1,058,847        4.4%        5,825,199        24.1%

$45,000 to $49,999        1,068,090        4.4%        6,893,289        28.5%

$50,000 to $59,999        2,246,312        9.3%        9,139,601        37.8%

$60,000 to $74,999        3,313,612        13.7%        12,453,213        51.6%

$75,000 to $99,999        4,354,664        18.0%        16,807,877        69.6%

$100,000 to $124,999        2,843,333        11.8%        19,651,210        81.4%

$125,000 to $149,999        1,522,822        6.3%        21,174,032        87.7%

$150,000 to $199,999        1,465,501        6.1%        22,639,533        93.7%

$200,000 or more        1,510,052        6.3%        24,149,585        100.0%

Their "middle class" radiates outward from a figure that's probably around $74,000. Their middle two quartiles range from $46,000 to about $110,000. Their middle three quintiles range from about $40,000 to about $120,000. Their middle one-third ranges from about $55,000 to about $95,000.

I would wager that the "traditional households" help define the middle class more so than all households, even though I think all households should be considered.

Somewere above me :doh!:

is your side business internet porn? Middle Class here we come...

Wow....obviously a HUGE difference between middle class in Cali and middle class in Middle America.

Scientifically speaking, the middle class is right above the lower class, and right below the upper class.

Quote:

Originally Posted by nychief

is your side business internet porn? Middle Class here we come...

No it's not porn! However if you have a willing siginifigant other and it's a she and you want to loan her out I could dust off the old video camera!
Thanks Rain man....I think I'm more confused now than ever!