Upper, middle and lower classes...

[Harpy Eagle]

Do you fall in America's lower, middle, or upper class? Here's how your income stacks up in the US economic class system

And what it means for your ability to build wealth.

www.yahoo.com

Do these seem valid? The limit for "Upper" seems really low.

Upper​

Based on Pew’s analysis, a household of three needs an income of $156,600 to meet the definition of upper class, which amounts to more than double the national median.

Middle​

Based on Pew’s calculator, middle class earners are actually those whos income falls between $52,200 and $156,600, or two-thirds to double the national median when adjusted for local cost of living and household size. In 2021, the median income was $70,784, according to Census Bureau data.

Lower​

Based on Pew’s analysis, a three-person household would be considered low-income if they’re bringing in less than $52,200 a year. This group makes up a significant chunk of the U.S. population, with about 38% of households making less than $50,000 in 2021.

 

[Manonthestreet]

I would agree

 

[Michelle420]

Do you fall in America's lower, middle, or upper class? Here's how your income stacks up in the US economic class system

And what it means for your ability to build wealth.

www.yahoo.com

Do these seem valid? The limit for "Upper" seems really low.

Upper​

Based on Pew’s analysis, a household of three needs an income of $156,600 to meet the definition of upper class, which amounts to more than double the national median.

Middle​

Based on Pew’s calculator, middle class earners are actually those whos income falls between $52,200 and $156,600, or two-thirds to double the national median when adjusted for local cost of living and household size. In 2021, the median income was $70,784, according to Census Bureau data.

Lower​

Based on Pew’s analysis, a three-person household would be considered low-income if they’re bringing in less than $52,200 a year. This group makes up a significant chunk of the U.S. population, with about 38% of households making less than $50,000 in 2021.

I made less than 40k I am very poor in case anyone rich feels pity.

 

[Harpy Eagle]

I would agree

I would agree on the upper limit if it were an individual, but not a family of 3

 

[Dogmaphobe]

The notion of class involves more than just income.

 

[Manonthestreet]

I would agree on the upper limit if it were an individual, but not a family of 3

I don't know, cost of housing is ridiculous now days.

 

[ReinyDays]

The Upper Class files a Schedule E to their IRS form 1040 ...

The Middle Class files a Schedule C to their IRS form 1040A ...

The Lower Class doesn't file at all ...

It's all about who writes the laws ... and THAT'S why the Middle Class pays ALL the taxes ... good system for the Rich, don't you agree? ...

 

[Harpy Eagle]

I don't know, cost of housing is ridiculous now days.

I just saw an article that said most people could not afford to buy their house today. But I am not sure this is out of the ordinary with the way prices have been going up so fast the last few years

 

[Michelle420]

The Upper Class files a Schedule E to their IRS form 1040 ...

The Middle Class files a Schedule C to their IRS form 1040A ...

The Lower Class doesn't file at all ...

It's all about who writes the laws ... and THAT'S why the Middle Class pays ALL the taxes ... good system for the Rich, don't you agree? ...

I've never made enough to be considered middle class.

 

[citygator]

Really depends on where you live too so you need to index it to a town. $156k in Birmingham is different than $156k Los Angeles.

 

[Michelle420]

I just saw an article that said most people could not afford to buy their house today. But I am not sure this is out of the ordinary with the way prices have been going up so fast the last few years

I feel like the rule used to only spend 30% of your income on housing but mine is 50% because it's not a good balance for my income to home ratio so I rent.

 

[DGS49]

"Class" is a loaded word, at all levels. I prefer quintiles.

Most of the people in my posse have lived in all classes and quintiles at various times in our lives.

When I was growing up, it was considered crass to show off expensive things; now it is considered normal and expected to flaunt your "wealth," even when it is imaginary.

 

[alang1216]

Do you fall in America's lower, middle, or upper class? Here's how your income stacks up in the US economic class system

And what it means for your ability to build wealth.

www.yahoo.com

Do these seem valid? The limit for "Upper" seems really low.

Upper​

Based on Pew’s analysis, a household of three needs an income of $156,600 to meet the definition of upper class, which amounts to more than double the national median.

Middle​

Based on Pew’s calculator, middle class earners are actually those whos income falls between $52,200 and $156,600, or two-thirds to double the national median when adjusted for local cost of living and household size. In 2021, the median income was $70,784, according to Census Bureau data.

Lower​

Based on Pew’s analysis, a three-person household would be considered low-income if they’re bringing in less than $52,200 a year. This group makes up a significant chunk of the U.S. population, with about 38% of households making less than $50,000 in 2021.

Upper Middle class maybe.

 

[marvin martian]

Do you fall in America's lower, middle, or upper class? Here's how your income stacks up in the US economic class system

And what it means for your ability to build wealth.

www.yahoo.com

Do these seem valid? The limit for "Upper" seems really low.

Upper​

Based on Pew’s analysis, a household of three needs an income of $156,600 to meet the definition of upper class, which amounts to more than double the national median.

Middle​

Based on Pew’s calculator, middle class earners are actually those whos income falls between $52,200 and $156,600, or two-thirds to double the national median when adjusted for local cost of living and household size. In 2021, the median income was $70,784, according to Census Bureau data.

Lower​

Based on Pew’s analysis, a three-person household would be considered low-income if they’re bringing in less than $52,200 a year. This group makes up a significant chunk of the U.S. population, with about 38% of households making less than $50,000 in 2021.

Does "household of three" assume two working adults and a child?

 

[Mindful]

The notion of class involves more than just income.

That’s true.

You can be an impoverished aristocrat, and still be superior in manners and breeding, to a jumped up low life.

 

[Mindful]

 

[Concerned American]

I don't know, cost of housing is ridiculous now days.

I found this interesting. Who was in power 2007-2016? Between 2007 and 2016, the median net worth of the top 20% increased 13% to $1.2 million. Meanwhile, the lowest earners saw their wealth decrease by at least 20% over that period of time.

 

[Harpy Eagle]

I found this interesting. Who was in power 2007-2016? Between 2007 and 2016, the median net worth of the top 20% increased 13% to $1.2 million. Meanwhile, the lowest earners saw their wealth decrease by at least 20% over that period of time.

Who was in power? That depends on what party you are with.

If good things happened and you are a Repub you point out the Repubs held Congress for most of that time. If bad things happened you point out that Obama was the POTUS.

If you are Dem you do just the opposite.

 

[1srelluc]

It gets messed up as far as where retired folks fall. Their worth is tied-up in assets like a home, land, savings, and tangibles such as art/guns/precious metals, and not so much a yearly income.

That's why I was so glad to hear about being able to wait till age 75 to cash-out a 401K.

 

[Redfish]

I would agree on the upper limit if it were an individual, but not a family of 3

depends on how many of the 3 are working.