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

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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:

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:

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