There is no true definition of middle class. People making only $30k a month consider themselves middle class and people making $1 million also think they are middle class.
If we guesstimate middle class by comparable lifestyle when the term was coined, it starts around 250k in today money. Comfortable house, lots of kids, multiple cars (but not luxury), at least one real traveling vacation every year, never worrying about paying bills or buying food, all while saving enough to retire by 55. There aren’t many people in the US with the income to match that. I’d say the middle class is dead.
There is no true definition of middle class. People making only $30k a month consider themselves middle class and people making $1 million also think they are middle class.
If we guesstimate middle class by comparable lifestyle when the term was coined, it starts around 250k in today money. Comfortable house, lots of kids, multiple cars (but not luxury), at least one real traveling vacation every year, never worrying about paying bills or buying food, all while saving enough to retire by 55. There aren’t many people in the US with the income to match that. I’d say the middle class is dead.
There is no ‘middle’ class. There is only ownership and labour.
I would argue there are at least 3 classes:
The impoverished class that makes their living from the charity of others
The working class that makes their living from their labor
The ownership class that makes their living from owning things
FTFY. You’re welcome.
Ha! Many thanks