Middle Means What?
Okay, we need to define our terms. When people are described, either by themselves or by others, as being "middle class," that means they earn an about average wage.
"Average" in this case could mean something like the graph above. The median income in the US is $42,327/year, that is half of the households earn more than that and half earn less. I would be curious to know the modal average, that is, what amount the greatest number of people earn per year. It should be right around that median amount, but I cannot either confirm or deny that. It could be higher, it could be lower.
My point in this little rant is in response to very wealthy people who feel downright poor. Really, there are people out there earning over a million a year who declare themselves middle class. Why? According to the NY Times:
So when the 95th-percentilers think of their incomes in the context of what their richer neighbors are earning, this cohort doesn’t feel very rich. (Indeed, the gap between the rich and the very rich has been growing in the last few decades. . . .)
It is perhaps no wonder, then, that so many people who are statistically rich call themselves “upper middle” or even “middle class.” They are much, much richer than lots of poor people, but also much, much poorer than some very visibly rich people. From their perspective, they truly are in the middle.
I excerpted a bit from the parentheses, though: "Exactly why the gap has been growing is unclear, but has likely been influenced by a combination of tax policy, deregulation and technological advances that allow people to control more capital."
So, shouldn't we revert to the tax policies and regulations of the past, say, the 1950s? This way, the country as a whole will feel more prosperous and those earning in the 95th percentile will actually be able to recognize that they're stinking rich mother fuckers without harboring delusions of relative poverty. The additional tax money would be very helpful as well.
"Average" in this case could mean something like the graph above. The median income in the US is $42,327/year, that is half of the households earn more than that and half earn less. I would be curious to know the modal average, that is, what amount the greatest number of people earn per year. It should be right around that median amount, but I cannot either confirm or deny that. It could be higher, it could be lower.
My point in this little rant is in response to very wealthy people who feel downright poor. Really, there are people out there earning over a million a year who declare themselves middle class. Why? According to the NY Times:
So when the 95th-percentilers think of their incomes in the context of what their richer neighbors are earning, this cohort doesn’t feel very rich. (Indeed, the gap between the rich and the very rich has been growing in the last few decades. . . .)
It is perhaps no wonder, then, that so many people who are statistically rich call themselves “upper middle” or even “middle class.” They are much, much richer than lots of poor people, but also much, much poorer than some very visibly rich people. From their perspective, they truly are in the middle.
I excerpted a bit from the parentheses, though: "Exactly why the gap has been growing is unclear, but has likely been influenced by a combination of tax policy, deregulation and technological advances that allow people to control more capital."
So, shouldn't we revert to the tax policies and regulations of the past, say, the 1950s? This way, the country as a whole will feel more prosperous and those earning in the 95th percentile will actually be able to recognize that they're stinking rich mother fuckers without harboring delusions of relative poverty. The additional tax money would be very helpful as well.