Ponce
11th December 2015, 10:51 AM
Like I said before......the old "middle" class was nothing more than a lower class with a lot of debts so that now that they cannot pay for those debts they have become a true lower class.........about most renters being over 40 years old? it is my personal opinion that they also were the old middle class with a fancy home......also those over 60 years now have to give login to their sons and family because their college education didn't give them a job.
Me? (let me "brag" once again) even thou my only income is my SS I am able to live like a king....for the simple reason that I have NO DEBTS........ V
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Another reason why the middle class are beloved by politicians: Many lower-income Americans may consider themselves middle class even if they’re not, Hamrick says. Americans tend to identify with the depictions of middle class life in the media and/or whether they have a college education (even if they don’t earn as much as middle-income households), he says. Some economists define the middle class as making 50% above or below the median annual income, which differs from Pew’s definition of the middle 20% of America’s income and wealth.
Pew defines middle-income households as those with an income that is two-thirds to double that of the U.S. median household income, after incomes have been adjusted for household size. For a three-person household, the middle-income range earned a minimum of $41,869 a year versus $125,609 a year for a higher-income household. Lower-income households have incomes less than two-thirds of the median.
These definitions don’t matter as much to most Americans, Hamrick says. “Many Americans appreciate that the middle class has defined our society,” he adds. “We tend to romanticize stories of economic ascension from Abraham Lincoln cutting logs and becoming a man of great dignity to the Mark Zuckerbergs, rising to financial success from the middle class through technology and innovation.”
Don’t miss: America’s 20 richest people have more money than these 152 million people
Long, and complete, article here........marketwatch..........unable to post it.
Me? (let me "brag" once again) even thou my only income is my SS I am able to live like a king....for the simple reason that I have NO DEBTS........ V
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Another reason why the middle class are beloved by politicians: Many lower-income Americans may consider themselves middle class even if they’re not, Hamrick says. Americans tend to identify with the depictions of middle class life in the media and/or whether they have a college education (even if they don’t earn as much as middle-income households), he says. Some economists define the middle class as making 50% above or below the median annual income, which differs from Pew’s definition of the middle 20% of America’s income and wealth.
Pew defines middle-income households as those with an income that is two-thirds to double that of the U.S. median household income, after incomes have been adjusted for household size. For a three-person household, the middle-income range earned a minimum of $41,869 a year versus $125,609 a year for a higher-income household. Lower-income households have incomes less than two-thirds of the median.
These definitions don’t matter as much to most Americans, Hamrick says. “Many Americans appreciate that the middle class has defined our society,” he adds. “We tend to romanticize stories of economic ascension from Abraham Lincoln cutting logs and becoming a man of great dignity to the Mark Zuckerbergs, rising to financial success from the middle class through technology and innovation.”
Don’t miss: America’s 20 richest people have more money than these 152 million people
Long, and complete, article here........marketwatch..........unable to post it.