this post was submitted on 18 Apr 2024
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Interesting Global News

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[–] [email protected] 29 points 5 months ago* (last edited 5 months ago) (13 children)

I don't really know how the different economic classes are defined. It seems like everyone who isn't either wealthy or homeless likes to believe that they're middle or upper-middle class. I'd argue that if you can't afford a home, you're low or lower-middle class.

This is not meant to be a judgement against people who can't afford homes. If anything, I'm just pointing out the horrible income inequality and how the "vanishing middle class" has indeed vanished, to a large extent.

[–] [email protected] 6 points 5 months ago (4 children)

The middle class is the middle three household income quintiles.

From the study:

There’s no single definition of the middle class, but one of the most go-to benchmarks is Pew Research’s household income percentile ranges for economic classes, which go as follows:

  • Lower-middle class: 20th - 40th percentile
  • Middle class: 40th - 60th percentile
  • Upper-middle class: 60th - 80th percentile

Based on these percentile ranges, America’s “middle class” households fall into three main income tiers:

  • Lower-middle class: $30,001—$58,020
  • Middle class: $58,021—$94,000
  • Upper-middle class: $94,001—$153,000
[–] [email protected] 5 points 5 months ago

Just tells me I've been nothing but poor my entire life

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