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  •  He keeps insisting "$250k is middle class!" (5+ / 0-)

    Well, Tom:  That is NOT what middle class people think. And how can you call anyone in the top 3% (being generous) of income be considered "middle." That is absurd.

    Tom apprently thinks that if someone is not richy rich, without a care in the world, he or she is "middle class." But someone in the top 2% or 3% income level is terribly different from someone who is making say $35k a year with a child or two to feed and clothe.

    We used to use the designations of Upper Middle Class or Lower Middle Class or Poor. Now you almost never hear any of those terms. Poor are referred to often as "Lower Income." But some poor people have NO income let alone a "lower one." And we no longer use Upper Class. Oh, no, heavens, that would create the wrong impression.

    While the concept is typically ambiguous in popular opinion and common language use.... contemporary social scientists have put forward several, more or less congruent, theories on the American middle class. Depending on class model used, the middle class may constitute anywhere from 25% to 66% of households.
    ~~from WIKI
    How can someone in the 96th percentile be considered to be in the "middle" of anything?? Now, for instance, someone in that percentile in IQ wouldn't want to be considered "middle" in intelligence.
    Economix...nyt
    As you can see in the chart, households earning $250,000 fall somewhere just above the 96th percentile. For context, the Tax Policy Center placed the median household at about $42,000 in cash income in 2011. (Using a slightly different metric, the Census Bureau reported on Wednesday that the median household income was about $50,000.)

    "extreme concentration of income is incompatible with real democracy.... the truth is that the whole nature of our society is at stake." Paul Krugman

    by Gorette on Mon Dec 31, 2012 at 01:40:08 PM PST

    [ Parent ]

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