What is Middle Class?

I just keep hearing middle class this middle class that and I just don't know what these people are talking about anymore. What is your definition of middle class?

I would guess most people consider the $30,000 to $70,000 range for middle class. $30,000 may even be a little low to be considered 'middle'.

I would guess most people consider the $30,000 to $70,000 range for middle class. $30,000 may even be a little low to be considered 'middle'.

What about people who are single? Is a single person making 70K middle class?

What about people who are single? Is a single person making 70K middle class?

I would say that a single person amking 70K is close to upper-middle class. After all, the average household income is something like $45K.

I wouldn't even go as far as putting a monetary value on it. I would consider middle class as a person/couple/family that are able to live fairly comfortably on their current salary, without having to live beyond their means. A little debt is ok, but not to the point where one or two more falls and the only means to get out is to declare bankruptcy.

But there are so many things to consider when defining a "middle class". Does it divide into 3 sectors (Lower, Middle, Upper)? Do you include the working class? Do you use a salary to define it? Can you live paycheck to paycheck and still be considered Middle Class?

I wouldn't even go as far as putting a monetary value on it. I would consider middle class as a person/couple/family that are able to live fairly comfortably on their current salary, without having to live beyond their means. A little debt is ok, but not to the point where one or two more falls and the only means to get out is to declare bankruptcy.

But there are so many things to consider when defining a "middle class". Does it divide into 3 sectors (Lower, Middle, Upper)? Do you include the working class? Do you use a salary to define it? Can you live paycheck to paycheck and still be considered Middle Class?

Excellent point. I mean you have lots of couples who have combined income of 200K but lots of expenses (expensive homes, cars, edu. loans, kids, etc). Look a the SF bay area, it's almost impossible to survive with less than 100K in salary.

In my experience, the majority of Americans seem to live paycheck to paycheck, whether they are making $15,000 per year or $150,000 per year. People's "needs" tend to increase as fast as their incomes.

I would say that a single person amking 70K is close to upper-middle class. After all, the average household income is something like $45K.

So if you're single and make 85K, what are you? You most certainly are not wealthy.

I would guess most people consider the $30,000 to $70,000 range for middle class. $30,000 may even be a little low to be considered 'middle'.

It gets *very* fuzzy when you start factoring in cost of living, too. Like the firefighter in NYC that makes $90k. Is he then, upper class? I would bet he doesn't think so. Or the guy in SW VA who makes $60k? He is in your middle class designation, but he lives very comfortably, comparatively.

*edit - Seems other people typed this point in faster than I. :)

Senator Chuck Schumer was on The Daily Show last night pushing his new book. He had this imaginary middle class couple with 3 kids who had a combined income of 75K...The Baileys as he calls them.