What income levels would make up the "middle class" ?

[kentuck]

The Congress is debating whether to extend taxcuts for the wealthy, those making $250K and above. Some are saying the taxcuts should be extended for those making up to $1 million dollars.

What percentile of people would make up the middle class? Would it be everyone from 20 to 80 percent? The bottom 20 percent would be the lower income class and the top 20% would be the wealthiest in our country?

If that were the case, then $250K would not be in the middle class? It would be in the top 5% of earners in this country. They definitely would not be considered "middle class". Certainly not millionaires!

So, how about we cut the crap? They are not talking about cutting taxes for the "middle class". They are talking about cutting taxes for a large portion of the upper class and draining our country of revenues that will be needed to keep us a civilized and caring nation. Democrats are falling into a trap. A Republican trap.

[lumberjack_jeff]

1. Median household income is $44,400.

That's middle income.

[kentuck]

2. In other words...

50% make less than $44,400 and 50% make more. But would that tell us who is in the middle class??

[OHdem10]

4. I saw a report on two different channels that Median Income now

38,000. Middle class loses income annually.

People who had better paying jobs have been forced
to take jobs at less pay.

Remember when the Auto Industry were going through
their restructuring, the Union had to agree to bring
salaries down to match the foreign car mfg. in this
country. It was very big hourly drop.

[JamesA1102]

17. But that is for the whole country

There are areas of the country where that would be upper middle class while in other areas that would be near poverty level.

[lumberjack_jeff]

19. Bleh.

This bugs me.

If you want to live in an area where your big salary looks big, then move to North Dakota.

National tax policy should be based on national data.

[daleanime]

3. Very true....

and something that's easy to lose sight of. Amazing how 24/7 MSM affects all of us. The conversation gets pushed in the direction they want either we like it or not.:spank:

[Tippy]

5. K&R...Incomes of Middle Class People

SNIP:
The middle class income range is believed to be between USD 35,000 to USD 50,000 per year approximately as per the studies conducted by various institutions and economists. As per some other studies, the middle class income range could be between USD 22,000 to USD 65,000 per year. In some of the expensive cities, people earning up to USD 70,000 per year would also be included in the middle class bracket. More on gross domestic product.

The middle class is further divided into the upper middle class and the lower middle class. The upper middle class usually consists of people having substantial assets and household earnings which are more than USD 1,00,000 per year. The people in this class occupy considerably higher positions in their offices and are financially more stable than many people of their country. These are the people who see a considerable rise in their incomes due to the economic growth of the nation. They have higher disposable incomes than many of their fellow countrymen. The lower middle class consists of people who have basic educational qualifications and have an income between USD 30,000 to USD 60,000 per year. The lower middle class constitutes of a large part of the total population of a country. The lower middle class struggles to get to the level of the upper middle class, which in turn aims at entering the rich or elite class.

The middle class income range has seen a slow and steady rise in many countries of the world due to increased job opportunities. Asian countries like India and China have a middle class which is growing at a fast pace and adding to the growth of these countries. Hopefully, you are satisfied with the data on middle class income range in this article.

http://www.buzzle.com/articles/middle-class-income-range.html

[awoke_in_2003]

13. I make 62K in a relatively cheap city...

I guess I am shitting in high cotton and didn't even know it. Excuse me while I go buy some Beluga caviar :sarcasm:

[HopeHoops]

6. That is highly dependent on where you live! $40K - nothing some places, doing well others.

There's a lot more to it than just "how much do you make". Housing costs are profoundly different as well as associated insurance rates, retail prices, utilities, etc.

For example, I spent two years living in a rented place in PA (where my wife stayed and the kids went to school) while I ALSO rented a condo in Reston, VA because that's where my job was. The cost to maintain the much smaller condo in VA was over 1.5 times that of the place in PA - and that's just rent and utilities. Everything was more expensive in Reston so I bought whatever food or other needs I had in PA and took them with me when I returned. And I did this on an "okay" salary for someone who was JUST living in Reston.

$250K is easily on what I would call the "upper end" of middle class for most places in the country, but I can't speak for downtown NYC or similar places. So maybe it is a little high, but it is a reasonable cut-off level for the sake of the legislation. Personally, I would be okay with all of the tax cuts expiring. That's not a "tax increase", that's a travesty coming to an end. I would prefer that they keep them in place for those below SOME level (and $250K is okay with me), not for myself but rather for those more in need and the economy as a whole.

[Occam Bandage]

7. From however little I fear I might someday earn to however much I hope I might someday earn.

[craigmatic]

8. I'd say people making between 36K and 100k per year.

[Exilednight]

9. First off, we need to raise the poverty level to somewhere around $25k. Then we can define ........

the middle-class.

[TobileStack]

10. re: middle class

I think of the middle class as less than six figure incomes. I guess it could differ depending on cost of living, though.

[Odin2005]

11. There is no "Middle Class". There is the Working Class and the Corporate Class.

[awoke_in_2003]

14. Wrong, there is...

the Working Class, Corporate Class, and the forgotten and ignored poor. All we or politicians ever discuss is the middle class, yet there are millions out there hungry, cold, and in many cases dying. And not one DC Jackass says or does "boo" about it. Sorry, this is not meant to be a jab at you Odin (please do not send Thor my way :)) but a jab at ALL OF US as a country.

[Odin2005]

21. Yup!

It's really pathetic.

[bluegerogia]

12. ownership

I always thought of the middle class as being more about ownership than income. In other words there the working class who have through hard work and financial thrift/wisdom/sneakiness (depending on the individual) managed to actually own something, essentially small proprietors.

[FrenchieCat]

15. Ownership of what?

Ownership of one's home or car?

Most either drive an old car or owe to the Bank.

Most who own their home, don't own it outright, if ever, until they are very old.

So what "ownership" are you discussing here. Please elaborate clearly. Thanks!

[TheKentuckian]

16. Thats like the real meaning. In America, middle class means apparently anyone

making minimum wage up to about a half million or so a year when they become upper middle class until they have no need for income from work which extends beyond pro sports/movie star salaries in most cases. That is where rich starts and wealthy is the area where you can't cash out and are just stacking numbers.

[Suich]

18. Welcome to DU, bluegerogia!

:party: :party: :party:

[bigwillq]

20. Hello.

Welcome to DU! :hi: