It is currently Sun Nov 10, 2024 8:06 am

All times are UTC - 6 hours [ DST ]




Post new topic Reply to topic  [ 1866 posts ]  Go to page Previous  1 ... 41, 42, 43, 44, 45, 46, 47 ... 63  Next
Author Message
PostPosted: Fri Aug 17, 2018 11:50 am 
Offline
User avatar

Joined: Wed Sep 24, 2008 12:16 pm
Posts: 81625
denisdman wrote:
Boilermaker Rick wrote:
denisdman wrote:
LOL, so you have $20,400 in excess money per year.
Taking this out of context makes it pretty funny.


I know. It is funny that he thinks $20k in excess annual income makes one upper middle class. Clearly he is not planning to save either. But w/e.

I mean, the definition is what it is, Denis. Maybe you think your upper middle class but you are actually just low end rich?


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 11:51 am 
Offline
User avatar

Joined: Mon Dec 11, 2006 1:05 am
Posts: 25181
Location: Cultural Mecca
pizza_Place: Pequod's / Barnaby's
Dennis apparently thinks EVERYONE has a $20,000 surplus every year.

_________________
Rick Hahn is the best GM in baseball.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 11:53 am 
Offline
User avatar

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 91811
Location: To the left of my post
rogers park bryan wrote:
I mean, the definition is what it is, Denis. Maybe you think your upper middle class but you are actually just low end rich?

Agreed. denis seems ashamed of being upper class. That's probably why he doesn't like Trump too. I hear rich people think Trump is a joke.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 11:53 am 
Offline
100000 CLUB
User avatar

Joined: Tue Mar 29, 2005 8:06 pm
Posts: 81454
pizza_Place: 773-684-2222
badrogue17 wrote:
Boilermaker Rick wrote:
denisdman wrote:
Well, the difference between $100k and $350k is absolutely massive. Consider this, when you make $100k, that income is supporting a mortgage and two car payments and not much else beyond ordinary expenses like food, utilities and gas. Once you get to say $250k, that extra $150k per year is a bigger house, better cars, and lots of leisure money- vacations, eating out, entertainment, savings. Unless you are a moron and get too house horny, it is hard to spend it all.

Now you start accumulating excess cash for a decade, and it gets even easier. Eventually you don't have any debt and you still have that large check, bonus and equity compensation coming in. You get a bonus check and don't have anything to spend it on, so you just deposit it in the bank.

Making 3.5 times more money is a big difference.
Image

Looking at 350k a year weekly, comes to $6700. Just one weeks wages would take care of I'm guessing 99% of the bills for everyone on the board and thats just one weeks paycheck, leaving 20k for the rest of the month.I know most people accumulate more debt the more they make but I truly cant get my head around having 20k left over every month to do whatever. I cant see how you couldn't stack up enormous wealth after only a few years of that salary.


Taxes will be a bitch too.

_________________
Nas: Blago, who has single handedly destroyed CFMB?

Blago: https://youtube.com/shorts/Lftdxd-YXt8?feature=share


“We cannot turn away from this truth in this election, putting patriotism ahead of partisanship is not an aspiration —it is our duty.” -Liz Cheney


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 11:57 am 
Offline
100000 CLUB
User avatar

Joined: Wed Feb 08, 2006 6:17 pm
Posts: 102656
pizza_Place: Vito & Nick's
rogers park bryan wrote:
Add probably $100-150 a month for house upkeep. And if you have a pool add way more :x
Add some coin for Ariel's food and litterbox as well :D

_________________
Joe Orr Road Rod wrote:
It's more fun to be a victim
Caller Bob wrote:
There will never be an effective vaccine. I'll never get one anyway.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 11:58 am 
Offline
User avatar

Joined: Wed Sep 24, 2008 12:16 pm
Posts: 81625
Frank Coztansa wrote:
rogers park bryan wrote:
Add probably $100-150 a month for house upkeep. And if you have a pool add way more :x
Add some coin for Ariel's food and litterbox as well :D

The Mangino of cats.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:02 pm 
Offline
User avatar

Joined: Tue Oct 11, 2016 10:31 pm
Posts: 1379
pizza_Place: Pequods
IMU wrote:
denisdman wrote:
Well, the difference between $100k and $350k is absolutely massive. Consider this, when you make $100k, that income is supporting a mortgage and two car payments and not much else beyond ordinary expenses like food, utilities and gas. Once you get to say $250k, that extra $150k per year is a bigger house, better cars, and lots of leisure money- vacations, eating out, entertainment, savings. Unless you are a moron and get too house horny, it is hard to spend it all.

You're out of touch, again, when it comes to money, because you've been spending big for so long.

On $100,000 gross, you'll net about $70,000, or $5850 per month.

$5,850 per month... let's say you bought a $300,000 house with a decent downpayment
-$1900 mortage
-$700 car payments
-$200 car insurance
-$150 comcast
-$100 cell phones
-$300 monthly gas for the cars
-$500 groceries
-$125 electricity
-$70 water/garbage
-$100 gas

Right there you still have $1700 every month left over. And we didn't buy a Toyota iA or a 700 sq foot condo.


You’re leaving out healthcare costs, which for a family with kids is probably $1,000 pet month. Plus, every month had something “unexpected”—car repair, appliance breaking, house painting, travel baseball costs, music lesson. There are a lot of variable costs, while you have outlined only the fixed costs.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:07 pm 
Offline
100000 CLUB
User avatar

Joined: Tue Mar 29, 2005 8:06 pm
Posts: 81454
pizza_Place: 773-684-2222
As with most things it comes down to expenses. There are families who probably make half of what Dennis makes, but because they have fewer or no kids, drive a 1995 Honda, shop for clothes at Walmart and live in modest house they're in a better financial position. There are also folks who make more, but are in a terrible financial situation because they have bad habits or live beyond their means.

_________________
Nas: Blago, who has single handedly destroyed CFMB?

Blago: https://youtube.com/shorts/Lftdxd-YXt8?feature=share


“We cannot turn away from this truth in this election, putting patriotism ahead of partisanship is not an aspiration —it is our duty.” -Liz Cheney


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:11 pm 
Offline
User avatar

Joined: Wed Sep 07, 2016 3:07 pm
Posts: 7929
Location: A large oak tree.
pizza_Place: Nowhere
Heisenberg wrote:
IMU wrote:
denisdman wrote:
Well, the difference between $100k and $350k is absolutely massive. Consider this, when you make $100k, that income is supporting a mortgage and two car payments and not much else beyond ordinary expenses like food, utilities and gas. Once you get to say $250k, that extra $150k per year is a bigger house, better cars, and lots of leisure money- vacations, eating out, entertainment, savings. Unless you are a moron and get too house horny, it is hard to spend it all.

You're out of touch, again, when it comes to money, because you've been spending big for so long.

On $100,000 gross, you'll net about $70,000, or $5850 per month.

$5,850 per month... let's say you bought a $300,000 house with a decent downpayment
-$1900 mortage
-$700 car payments
-$200 car insurance
-$150 comcast
-$100 cell phones
-$300 monthly gas for the cars
-$500 groceries
-$125 electricity
-$70 water/garbage
-$100 gas

Right there you still have $1700 every month left over. And we didn't buy a Toyota iA or a 700 sq foot condo.


You’re leaving out healthcare costs, which for a family with kids is probably $1,000 pet month. Plus, every month had something “unexpected”—car repair, appliance breaking, house painting, travel baseball costs, music lesson. There are a lot of variable costs, while you have outlined only the fixed costs.


Property taxes.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:19 pm 
Offline
User avatar

Joined: Thu May 28, 2009 11:10 am
Posts: 42094
Location: Rock Ridge (splendid!)
pizza_Place: Charlie Fox's / Paisano's
Being mid-to-upper poverty class is a great way to not get involved in arguments like this. :D :cry:

_________________
Power is always in the hands of the masses of men. What oppresses the masses is their own ignorance, their own short-sighted selfishness.
- Henry George


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:23 pm 
Offline
User avatar

Joined: Mon Dec 11, 2006 1:05 am
Posts: 25181
Location: Cultural Mecca
pizza_Place: Pequod's / Barnaby's
Drunk Squirrel wrote:
Property taxes.

Property taxes are included in the mortgage amount I listed.

The family I listed example expenses for is a couple. Our health plan at my job, is decent and is like $410 for a family. $1000 is a little steep.

_________________
Rick Hahn is the best GM in baseball.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:23 pm 
Offline
User avatar

Joined: Mon Dec 11, 2006 1:05 am
Posts: 25181
Location: Cultural Mecca
pizza_Place: Pequod's / Barnaby's
Drunk Squirrel wrote:
Property taxes.

Property taxes are included in the mortgage amount I listed.

The family I listed example expenses for is a couple. Our health plan at my job is decent and is like $410 for a family. $1000 is a little steep.

_________________
Rick Hahn is the best GM in baseball.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:31 pm 
Offline
User avatar

Joined: Tue Oct 11, 2016 10:31 pm
Posts: 1379
pizza_Place: Pequods
IMU wrote:
Drunk Squirrel wrote:
Property taxes.

Property taxes are included in the mortgage amount I listed.

The family I listed example expenses for is a couple. Our health plan at my job is decent and is like $410 for a family. $1000 is a little steep.


My plan is not as generous. Also, we should be putting money in our 401k ($18,500 per year pre tax, max).


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:42 pm 
Offline
User avatar

Joined: Thu Jun 22, 2006 3:55 pm
Posts: 33063
Location: Wrigley
pizza_Place: Warren Buffet of Cock
IMU wrote:
Dennis apparently thinks EVERYONE has a $20,000 surplus every year.


LoL nope, I think solidly middle class folks have that after basic expenses, and then either use that that for college or retirement or on vacations and unexpected things. You're the one that provided the $20,000 surplus example as upper middle class, which even by your generous 15% definition means 85% do not have that surplus. So don't put fake words in my mouth.

_________________
Hawaii (fuck) You


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:44 pm 
Offline
User avatar

Joined: Mon Dec 11, 2006 1:05 am
Posts: 25181
Location: Cultural Mecca
pizza_Place: Pequod's / Barnaby's
denisdman wrote:
IMU wrote:
Dennis apparently thinks EVERYONE has a $20,000 surplus every year.


LoL nope, I think solidly middle class folks have that after basic expenses, and then either use that that for college or retirement or on vacations and unexpected things. You're the one that provided the $20,000 surplus example as upper middle class, which even by your generous 15% definition means 85% do not have that surplus. So don't put fake words in my mouth.

I believe that 85% do not have that surplus annually, correct. If you believe otherwise, you have absolutely no connection to middle America.

_________________
Rick Hahn is the best GM in baseball.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:54 pm 
Offline
User avatar

Joined: Wed Sep 07, 2016 3:07 pm
Posts: 7929
Location: A large oak tree.
pizza_Place: Nowhere
IMU wrote:
Drunk Squirrel wrote:
Property taxes.

Property taxes are included in the mortgage amount I listed.

The family I listed example expenses for is a couple. Our health plan at my job is decent and is like $410 for a family. $1000 is a little steep.


Figured that might be the case along with homeowners insurance. Most of these numbers are almost meaningless to me as my area is at an entirely different cost of living than the Mecca and of course, my property taxis in essence a business tax as it’s a cost of going business when you farm. Thst,and adding kids into the equation changes food costs remarkably. Probably energy too every time my youngest decides he’s cold or hot and maxes the thermostat in the room. I’m not sure why he thinks it should be 83 degrees in The house in January.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 12:57 pm 
Offline
User avatar

Joined: Mon Dec 11, 2006 1:05 am
Posts: 25181
Location: Cultural Mecca
pizza_Place: Pequod's / Barnaby's
Tell the little doofus to put on joggers and a Columbia fleece.

_________________
Rick Hahn is the best GM in baseball.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:02 pm 
Offline
User avatar

Joined: Mon May 02, 2011 4:29 pm
Posts: 40578
Location: Everywhere
pizza_Place: giordanos
A lot of information here. I doubt many households have a 20k surplus. You would have to included 401k contributions as well as monthly surplus for most. It does not add up with all the stories that people save less then 5% of pay if that.

Dennis is doing well obviously. He can argue upper middle class versus middle class all he likes but it is clear he is getting toward 1% levels closer than upper middle class. If he is using his numbers.

Practically upper middle class seems to me to be about 150k combined household income. You can breathe pretty easy there.

BTW, I make myself feel better trying to figure out how many years someone needs to work to match my one. :lol:

_________________
If you choose not to decide, you still have made a choice.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:09 pm 
Offline
User avatar

Joined: Thu Aug 17, 2017 1:33 pm
Posts: 12078
pizza_Place: Vito and Nick's
pittmike wrote:
A lot of information here. I doubt many households have a 20k surplus. You would have to included 401k contributions as well as monthly surplus for most. It does not add up with all the stories that people save less then 5% of pay if that.

Dennis is doing well obviously. He can argue upper middle class versus middle class all he likes but it is clear he is getting toward 1% levels closer than upper middle class. If he is using his numbers.

Practically upper middle class seems to me to be about 150k combined household income. You can breathe pretty easy there.

I rarely disagree with my Viking friend from Pittsnoggle, but I will here:

a) 1%--These mafuckers have tons of assets. millionaires. they own stuff that makes money for them,
b) You'd think that would be enough...but the missus and I make more than that combined and we are check to check. We could live more frugally, that's for sure, but we're not gonna repeat our childhoods. (Our ONE vacation was a two-day jaunt to Lincoln, Illinois. Yes, Lincoln, Illinois.)

Why need so much dough re me? Mostly for the reasons I outlined (and people ignored and restated as their own ideas :lol: Mafuckers can't keep up wif me)

So it's more than income for many people.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:17 pm 
Offline
User avatar

Joined: Wed Sep 24, 2008 12:16 pm
Posts: 81625
pittmike wrote:
A lot of information here. I doubt many households have a 20k surplus. You would have to included 401k contributions as well as monthly surplus for most. It does not add up with all the stories that people save less then 5% of pay if that.

Dennis is doing well obviously. He can argue upper middle class versus middle class all he likes but it is clear he is getting toward 1% levels closer than upper middle class. If he is using his numbers.

Practically upper middle class seems to me to be about 150k combined household income. You can breathe pretty easy there.

BTW, I make myself feel better trying to figure out how many years someone needs to work to match my one. :lol:

Just post your w-2 mike, you know you want to


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:22 pm 
Offline
User avatar

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 91811
Location: To the left of my post
So have we figured out how much money leash makes yet?

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:24 pm 
Offline
User avatar

Joined: Fri Jun 29, 2007 11:17 am
Posts: 72375
Location: Palatine
pizza_Place: Lou Malnatis
Boilermaker Rick wrote:
So have we figured out how much money leash makes yet?

More than Don and less than Denis.

_________________
Fare you well, fare you well
I love you more than words can tell
Listen to the river sing sweet songs
To rock my soul


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:24 pm 
Offline
User avatar

Joined: Thu Aug 17, 2017 1:33 pm
Posts: 12078
pizza_Place: Vito and Nick's
Boilermaker Rick wrote:
So have we figured out how much money leash makes yet?

Or if he's middle-aged


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:25 pm 
Offline
User avatar

Joined: Mon May 02, 2011 4:29 pm
Posts: 40578
Location: Everywhere
pizza_Place: giordanos
tommy wrote:
pittmike wrote:
A lot of information here. I doubt many households have a 20k surplus. You would have to included 401k contributions as well as monthly surplus for most. It does not add up with all the stories that people save less then 5% of pay if that.

Dennis is doing well obviously. He can argue upper middle class versus middle class all he likes but it is clear he is getting toward 1% levels closer than upper middle class. If he is using his numbers.

Practically upper middle class seems to me to be about 150k combined household income. You can breathe pretty easy there.

I rarely disagree with my Viking friend from Pittsnoggle, but I will here:

a) 1%--These mafuckers have tons of assets. millionaires. they own stuff that makes money for them,
b) You'd think that would be enough...but the missus and I make more than that combined and we are check to check. We could live more frugally, that's for sure, but we're not gonna repeat our childhoods. (Our ONE vacation was a two-day jaunt to Lincoln, Illinois. Yes, Lincoln, Illinois.)

Why need so much dough re me? Mostly for the reasons I outlined (and people ignored and restated as their own ideas :lol: Mafuckers can't keep up wif me)

So it's more than income for many people.


Yeah I was being pretty simplistic think income only. 300k check the check and you are loon sorry. :lol:

_________________
If you choose not to decide, you still have made a choice.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:26 pm 
Offline
User avatar

Joined: Mon May 02, 2011 4:29 pm
Posts: 40578
Location: Everywhere
pizza_Place: giordanos
tommy wrote:
Boilermaker Rick wrote:
So have we figured out how much money leash makes yet?

Or if he's middle-aged


If he lives to 62 1/2 yes.

_________________
If you choose not to decide, you still have made a choice.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:27 pm 
Offline
User avatar

Joined: Thu Aug 17, 2017 1:33 pm
Posts: 12078
pizza_Place: Vito and Nick's
pittmike wrote:
tommy wrote:
pittmike wrote:
A lot of information here. I doubt many households have a 20k surplus. You would have to included 401k contributions as well as monthly surplus for most. It does not add up with all the stories that people save less then 5% of pay if that.

Dennis is doing well obviously. He can argue upper middle class versus middle class all he likes but it is clear he is getting toward 1% levels closer than upper middle class. If he is using his numbers.

Practically upper middle class seems to me to be about 150k combined household income. You can breathe pretty easy there.

I rarely disagree with my Viking friend from Pittsnoggle, but I will here:

a) 1%--These mafuckers have tons of assets. millionaires. they own stuff that makes money for them,
b) You'd think that would be enough...but the missus and I make more than that combined and we are check to check. We could live more frugally, that's for sure, but we're not gonna repeat our childhoods. (Our ONE vacation was a two-day jaunt to Lincoln, Illinois. Yes, Lincoln, Illinois.)

Why need so much dough re me? Mostly for the reasons I outlined (and people ignored and restated as their own ideas :lol: Mafuckers can't keep up wif me)

So it's more than income for many people.


Yeah I was being pretty simplistic think income only. 300k check the check and you are loon sorry. :lol:

300k and czech to czech = heroin problem

or your sugar baby has an ass bigger than the hot chick on channel 9 news

i could make her happy


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:28 pm 
Offline
User avatar

Joined: Thu Jun 22, 2006 3:55 pm
Posts: 33063
Location: Wrigley
pizza_Place: Warren Buffet of Cock
tommy wrote:
Boilermaker Rick wrote:
So have we figured out how much money leash makes yet?

Or if he's middle-aged


LOL. Gotta love this place.

_________________
Hawaii (fuck) You


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:33 pm 
Offline
User avatar

Joined: Wed Sep 07, 2016 3:07 pm
Posts: 7929
Location: A large oak tree.
pizza_Place: Nowhere
tommy wrote:
pittmike wrote:
A lot of information here. I doubt many households have a 20k surplus. You would have to included 401k contributions as well as monthly surplus for most. It does not add up with all the stories that people save less then 5% of pay if that.

Dennis is doing well obviously. He can argue upper middle class versus middle class all he likes but it is clear he is getting toward 1% levels closer than upper middle class. If he is using his numbers.

Practically upper middle class seems to me to be about 150k combined household income. You can breathe pretty easy there.

I rarely disagree with my Viking friend from Pittsnoggle, but I will here:

a) 1%--These mafuckers have tons of assets. millionaires. they own stuff that makes money for them,
b) You'd think that would be enough...but the missus and I make more than that combined and we are check to check. We could live more frugally, that's for sure, but we're not gonna repeat our childhoods. (Our ONE vacation was a two-day jaunt to Lincoln, Illinois. Yes, Lincoln, Illinois.)

Why need so much dough re me? Mostly for the reasons I outlined (and people ignored and restated as their own ideas :lol: Mafuckers can't keep up wif me)

So it's more than income for many people.


If you’d stop trying to corner the market on episode worn Fred Berry Berets you might have more reserves.


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:33 pm 
Offline
User avatar

Joined: Thu Sep 09, 2010 6:09 pm
Posts: 276
pizza_Place: Vito & Nick's
Whoa! I'm sorry you guys are poor. Maybe I shouldn't be glomming so many TV shows. :lol: Nah, fuck that. I loooooove capitalism! :lol: :lol:

_________________
Guy Fieri is co-owner of Johnny Garlic's and Tex Wasabi's Restaurants


Top
 Profile  
 
PostPosted: Fri Aug 17, 2018 1:35 pm 
Offline
User avatar

Joined: Fri Jul 27, 2007 9:10 am
Posts: 31948
rogers park bryan wrote:
This says

35k-99k = middle class

100k-200k = upper

Id imagine there are quite a few CFMB households pulling in 6 figures combined with their spouse/gf/baby mama




The Upper Middle Class

According to census data from 2015, 6.1% of households bring in $200,000 and higher every year and 14.1% bring in between $100,000 and $150,000. This is the upper middle class.

An Urban Institute paper argued that what they referred to as upper middle class, or those with a three-person household income between $100,000 and $350,000, has grown from 12.9% of the population in 1979 to 29.4% in 2014. It found that people with higher incomes saw their earnings grow faster than those with lower incomes.

"The idea that the real divide is between ordinary members of the bottom 99% and the rich 1% is a dangerous one, since it makes it easier for those in the upper middle class to convince themselves they are in the same economic boat as the rest of America; they’re not," wrote Nathan Joo and Richard V. Reeves of the Brookings Institution.

The Middle Middle Class and Lower Middle Class

Given that "upper middle class" turns out to be a synonym for wealthy, the true middle class includes the middle middle class and the lower middle class.

The Census Bureau says that 41.5% of American households brought in between $35,000 and $100,000 in 2015. Twenty-six percent of American households earn more than that and 32% earn less. While this gives us a good idea of the incomes of the average American middle class household, the definitions of this group vary.

The Urban Institute defined the middle class as adults with size-adjusted household incomes of between $30,000 and $100,000 for families of three.

The Pew Research Center defines the middle-income category as including adults with family-of-three equivalent incomes between two-thirds and double the national median. This brings the range from $37,666 to $113,000 according to current levels. To see where you fit in, use the Pew calculator to make your household’s income equivalent to that of a three-person household (the whole number nearest to the average size of a U.S. household, which was 2.5 in 2014).

President Trump is right: the middle class is shrinking. This group used to make up the vast majority of the American population, but now stands at roughly 50% of the American population, according to a Pew Research Center analysis of government data. (See also: Why the American Middle Class is Shrinking)

And there's one more group in the middle class. Those belonging to the lower middle class do not live in poverty, but they are often one misfortune away from being hurtled below the poverty line. Brookings Institution defined this group as including those with income between 100 and 250% of the federal poverty level, or between $18,871 and $47,177 for a family of three, according to the current numbers.

The Poverty Level

The lowest class includes any American household that falls under the poverty line, meaning families or individuals who don't earn enough money to meet their basic needs. The Census Bureau estimates that about 14% of the U.S. population (approximately 43 million people) live below the poverty line and fall into this class today.

The current official poverty threshold is an income of $24,257 per year for a family of four and $18,871 for a family of three. This figure has often been hotly debated because many poor Americans live in urban areas that have a high cost of living, making it likely that people earning more would fit the definition of poverty in a high-cost city or region.

Wealth Distribution






As you can see, the U.S. population consists of a variety of different income classes, and the shrinking middle class points to growing income inequality.

It's not all bad news, however. Last year the Census Bureau stated that the median inflation-adjusted American household income increased 5.2% between 2014 and 2015, the first annual increase since 2007. The number of people in poverty also fell by 3.5 million between 2014 and 2015 ​(see Good News: Long-Awaited Wage Growth Is Finally Happening).

The Bottom Line
Politicians love to use the term "middle class" because it evokes images of vigorous, respectable, hard-working Americans with good moral values. Most people tend to think of themselves as middle class. But the truth is, the middle class includes people with vastly different lifestyles and concerns.



Yes but inflation and geography are severely impacting how we view class structure in this country.

$100,000 per year in Chicago isn't the same as $100,000 per year in Lafayette, Louisiana. You have to factor in cost of living as well as inflation into the discussion.

_________________
The Hawk wrote:
This is going to reach a head pretty soon.


Last edited by long time guy on Fri Aug 17, 2018 1:37 pm, edited 1 time in total.

Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1866 posts ]  Go to page Previous  1 ... 41, 42, 43, 44, 45, 46, 47 ... 63  Next

All times are UTC - 6 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
Powered by phpBB® Forum Software © phpBB Group