Q:
Is there a standard, accepted definition of what constitutes the "middle class"?
Politicians are fond of talking about how the middle class will be affected by policies and laws, but rarely do they define who is actually part of that group.
A:
No, there isn't. "Middle class" means different things to different people - and politicians. There is no standard definition, and in fact, an overwhelming majority of Americans say they are "middle class" or "upper-middle class" or "working class" in public opinion polls. Hardly anybody considers themselves "lower class" or "upper class" in America.
It's possible to come up with a definition of what constitutes "middle income," but it will depend on how large a slice of the middle one prefers. If we look at U.S. Census Bureau statistics, which divide household income into quintiles, we could say that the "middle" quintile, or 20 percent, might be the "middle" class. In 2006, the average income for households in that middle group was $48,561 and the upper limit was $60,224. But we could just as reasonably use another Census figure, median family income. In 2006, the median ? or "middle" ? income for a family of four was $70,354. Half of all four-person families made more; half made less.
FactCheck.org
Growing up, I considered our family to be middle class. We grew up in a "blue collar" neighborhood. No one struggled but we weren't driving Beemers to our McMansions either. My father worked for Ma Bell and mother worked as a "secretary" ( I know.. I'm dating myself )
In many ways I would still consider myself living middle class .... by choice ... as I continue to invest in the future of the company(s) and toward my own retirement.
|