If an income of $200k/year is "middle class"....

[Xithras]

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

I know lawyers who make $150k a year and certainly aren't upper class or "rich". On the other hand, I know a guy who makes about $50k a year and has more wealth than everyone on DU combined. He works because he chooses to.

The difference between middle and upper class is your dependence on that income for survival. If you make $150k a year and would be bankrupted if you lost your job, you're middle class. If you make $150k a year and have enough in the bank to maintain your current lifestyle after that income is cut off, you're wealthy.

The difference between middle class and upper class isn't decided by your paycheck, it's decided by your bank statement (or, more accurately, your portfolio).

Now, there's clearly a point where this can break down. A playboy might make and blow a million bucks in a year. He's wealthy, but the difference is that he's making the choice to blow his wealth. That's probably not the case with someone making $200k a year (I'm sure there are exceptions, but generally).