"What an interesting article from someone like Ben Stein. ... People whose net worth are between $250000 and $500000 are generally upper middle class. ..."
http://securingamerica.com/ccn/node/7403Isn't McSmeagol's definition of middle class under as under $5 mil? Well if you make around $ 50K in most of US households, wouldn't that be what a president should know and say? SO RECKLESS and CLUELESS! WHO DOES THAT REMIND YOU OF?
"May 26, 2008 ... In 2006, the median annual household income was $48201.00 according to the US Census Bureau. <3> The median income per household member ..."
http://askville.amazon.com/average-yearly-household-income-2008/AnswerViewer.do?requestId=9950248"Nov 26, 2007 ... The report states the average annual household income has fallen over a five-year .... May 4 2008 Has the US Dollar Finally Bottomed Out? ..."
http://economics.bestmanagementarticles.com/Article.aspx?id=8710"the US economy grew 8% over the 2000-2006 period but median household income actually fell 2%."
http://en.wikipedia.org/wiki/Median_household_income"Vernacular middle class
The term middle class in more colloquial language use may refer to all those individuals who might at one point or another be identified as middle class, as they occupy neither extreme of the socio-economic strata. Most of those with households income between
$40,000 and $95,000 identify as "middle class." The term can also be used to describe those at the actual center of the income strata, who may also be referred to as the middle-middle class. There are many different theories on the middle-middle class. The middle-middle class may be composed of those households with annual incomes of 80% to 120%/b] of the national median household income. Persons in this income range could, in accordance to solely economic reasoning, be referred to as the American average. Such households would boast annual incomes ranging from $35,200 to $52,800, and thus be located in the middle of the income range.<13> Some of these households, while actually being in the middle and thus sometimes referred to as being middle class, cannot, however, afford the middle class lifestyle.<9> Yet another definition states that the statistical middle class includes all those households with income ranging from $25,000 to $100,000.<1> This is, however, a very vague definition, as it includes persons from all but the lowest quintile. Using this definition creates a class so economically fragmented that it would lump together those who are struggling to make ends meet with two incomes and those who are able to live the iconic middle class lifestyle with just one income and are highly educated."
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