You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #26: If you are earning more then $157,000 a year you are in the top 9.0% of the population [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
happyslug Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 04:54 PM
Response to Reply #9
26. If you are earning more then $157,000 a year you are in the top 9.0% of the population
Edited on Fri Dec-09-11 05:19 PM by happyslug
FAMILY Income by Income with Percentage:
http://www.census.gov/compendia/statab/2012/tables/12s0...

Middle Class means SOMETHING, in the pre-Depression day it meant those FAMILIES NOT in the top 3% but the 10 Percentage of the population below that number. Only 2.6 % of Families earn more the $250,000. 5.0 % over $200,000. 10.9% over $150,000 a year. 20.6% earn between $100,000 and $150,000, thus under the classic definition of what is the Middle Class it is any family whose income is over $150,000 a year.

In more recent decades middle class has become a meaningless term, multimillionaires call themselves members of the "Middle Class" as do people on Welfare.

Thus we have to decide on a definition of who is Rich, who is Middle Class and who is poor. 13.8% of the population earn less the $25,000 a year. That is close to the traditional percentage (10%) given for the poor. If we assume 10% of the population is rich, that is roughly anyone making more the $150,000 a year (5.7 % of families earn between $150,000 and $200,000, while 5.2 % of all families earn more then $200,000 a year. Thus the percentage of families earning more the $150,000 a year is 10.9%. Thus if your family's income is among the top 10% of family income, a definition of the term "Rich", $150,000 is the bottom end of the top 10% i.e. the bottom end of the "Rich".

That leaves roughly just under 80% of familes making between $25,000 and $150,000 a year.

Now, when people are asked what economic class their are in, people choose overwhelming to be "Middle Class" but if you give them a choice AND the choices are Poor, Working Class, Middle Class and Rich. That same group divides itself almost evenly between Working Class and Middle Class. Given that Median FAMILY Income is only $60,088, Working Class is a family that is making Roughly between $25,000 and $60,000 a year, Middle Class is a Family roughly making between $60,000 and $150,000 a year.

Median FAMILY Income for 2009:
http://www.census.gov/compendia/statab/2012/tables/12s0...

Just pointing out what is the income of American Families and that rich can mean someone making $100,000 a year.
Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC