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phantom power

(25,966 posts)

7. I think it could be considered "middle class" in the sense of "labor class"

Fri Mar 1, 2013, 02:40 PM

Mar 2013

By that, I mean at $200K/ year, you are obviously "rich" compared to a pantload of people, but you aren't so rich that you can generally live off of capital investments - you have a comfortable lifestyle, but you can't quit your job. So, you are still "labor class", as opposed to "capital class." Another way to look at it is, you could define "rich" as "having sufficient capital assets that you can live off of those assets without actually needing to earn a salary by holding a job"

In modern 2013 dollars, a $50K/year family income for a family of four ought to be considered poverty, or nearly so. When I was a kid, $50K/year was a good salary, but inflation adds up over the years.

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If an income of $200k/year is "middle class".... [View all] YoungDemCA Mar 2013 OP

I've always scratch my head when I see people say $200k/yr is middle class. octothorpe Mar 2013 #1

Honestly, while I would be thrilled to have that salary, Proles Mar 2013 #25

Way to miss the point. Ruby the Liberal Mar 2013 #44

What It Means, Sir, Is That 'Middle Class' as Generally Used Is Obfuscation And Deception The Magistrate Mar 2013 #2

Agree with most of this... YoungDemCA Mar 2013 #5

Those fit into the doctor and lawyer examples, IMO (nt) jeff47 Mar 2013 #12

There Is Something To That, Sir The Magistrate Mar 2013 #17

There's also now a large group of Americans who make a very good living in entertainment. KittyWampus Mar 2013 #22

No, there aren't. Their numbers have grown, but they are an insignificant percentage. Egalitarian Thug Mar 2013 #33

And Sports. KittyWampus Mar 2013 #35

Not even close. Add every member of every professional team in every sport and you Egalitarian Thug Mar 2013 #39

I have a nephew that related a story about his friends (a couple) R. Daneel Olivaw Mar 2013 #3

Middle class in their minds nachosgrande Mar 2013 #4

Has nothing to do with 'heavy taxes' and everything to do with high cost of living. nt stevenleser Mar 2013 #26

I agree, that's why us on the lower end, need to rethink this 99% Puzzledtraveller Mar 2013 #6

I think it could be considered "middle class" in the sense of "labor class" phantom power Mar 2013 #7

The difference between middle class and upper class isn't income, it's wealth. Xithras Mar 2013 #8

That's the distinction right there spinbaby Mar 2013 #13

I've also often been confused when people will say certain professions don't pay well riderinthestorm Mar 2013 #9

When I see these numbers, I doubt that I am alive. Perhaps I'm only a hallucination. freshwest Mar 2013 #10

I live in one of the JustAnotherGen Mar 2013 #11

You know what the real point of getting people to debate whether or not 200K is middle class is? winter is coming Mar 2013 #14

Exactly. I point to the 1955 tax brackets to make that point (inflation adjusted) JHB Mar 2013 #27

$200k a year sulphurdunn Mar 2013 #15

$200K, give or take, is the top end of the middle third of the income distribution Recursion Mar 2013 #16

The most revealing thing about present circumstances Tsiyu Mar 2013 #18

It all depends on what you mean by "middle class" FreeJoe Mar 2013 #19

Here, let the WSJ explain it to you ... dawg Mar 2013 #20

Where the hell did they get these examples? n/t Ron Green Mar 2013 #24

I'm working on the assumption the WSJ has a pretty good handle on, Sen. Walter Sobchak Mar 2013 #29

They pulled them ... dawg Mar 2013 #30

Who doesn't have an annual retirement income of $180,000? Ruby the Liberal Mar 2013 #45

That there is a broad middle class is an illusion. Paul E Ester Mar 2013 #21

Another definitional quandary dmallind Mar 2013 #23

Good post... cbrer Mar 2013 #36

I like how you put this. octothorpe Mar 2013 #43

Well stated! Ruby the Liberal Mar 2013 #46

It used to be $90K for a family of four was middle class KurtNYC Mar 2013 #28

The 1% are the problem. I have no problem with those making $200,000. They are not pampango Mar 2013 #31

They should be but, by and large, they are not. Egalitarian Thug Mar 2013 #32

I believe that Romney won the $200,000+ folks by about 55%-45%. You are right that pampango Mar 2013 #34

I guess that makes my wife and me "untypical". cbrer Mar 2013 #37

Well you're here, so that makes you atypical, your household income is in the top 10%, that Egalitarian Thug Mar 2013 #40

They are easily within the top 5% Demo_Chris Mar 2013 #41

The answer to that question is "working class" Spider Jerusalem Mar 2013 #38

This guy explained it well: bvar22 Mar 2013 #42