Economic data can't fully explain why so many feel financially squeezed
When politicians, economists, academics and journalists try to assess the current economic status of the "American middle class," the debate often begins with a question that some concede is all but impossible to answer: Who, exactly, is middle class in America today?
Anyone can feel financially squeezed. That doesn't mean they are or are not middle class. It just means they spend too much money compared to what they make.
and according to some republicans you are middle class if you make 200,000
I would say that the true middle class is the people who make between 50,000-100,000, depending on where you live. Possibly a little more than that in some really expensive urban areas. I know at the bottom of that scale (50-70), atleast in my area you can live pretty well and live a pretty good life. But when things like college comes for 3 kids, then the stuff really hits the fan and it becomes really hard because either the parents are going in debt to put the kids through school, or the kids are starting out life 20,000 + in debt (or both).
I think that's the really hard part about this situation for the middle class. My dad is a union pipefitter at a chemical plant and he make pretty good money. He went to college and got a degree, but many of the people that have worked there for a long time don't have one. Now to get hired at that plant you almost have to have a 4 year degree, even to do the stuff that my dad is doing, and now you wouldn't be making as much either. So my parents push us real hard to go to school, now I am in law school, my bro is in pharmacy school, and my sister is getting ready to go to college. The only help we get from the government is loans because my parents make to much. Its a no win situation, you can't not go to school because its hard to get hired to even do even a skilled trade job w/o a degree, and when you go to school instead of coming out and being able to save money for retirement and a house (and to put back into the stream of commerce) you have to pay a bunch of money toward loans. We seriously need to be looking at costs of education, because eventually this is going to be a big problem. And I even live in WV where it's almost as cheap for out of state students to go to school, than it is in their home states.
Sorry if this is more of a ramble, just got out of class and getting ready to go read.
That is the thing that irritates me about such classifications, there is no geographic adjustments for such. It is possible to do, there are income equivalency calculators. Where I grew up, 35k made you middle class. I have spent time in SF and a couple other cities where you better make over 80K.
As it is defined now, there is no answer. not even any overlap for some areas.
and according to some republicans you are middle class if you make 200,000
I would say that the true middle class is the people who make between 50,000-100,000, depending on where you live. Possibly a little more than that in some really expensive urban areas. I know at the bottom of that scale (50-70), atleast in my area you can live pretty well and live a pretty good life. But when things like college comes for 3 kids, then the stuff really hits the fan and it becomes really hard because either the parents are going in debt to put the kids through school, or the kids are starting out life 20,000 + in debt (or both).
I would have put middle class family of four at between $70,000 and $150,000. $200,000, I'd probably call upper-upper-middle-class. I really don't think of $200,000 as being "rich". When I think "rich" or "wealthy", I think of people who have enough discretionary funds laying around that they really don't have to think twice about running down to the Porsche dealer to pay cash for a new $75,000 911. I don't think that at $200,000 a year, you could do that, unless you've been making that much for quite a while.
I would agree with you. I do not think of people making 200,000 a year as rich either (even in my area) but would definately consider them to be upper middle class. However, If someone is making 200,000 a year, then they probably wouldn't have to worry too much about putting their kids through school (probably even a private school) and could keep their cars current (not necessarily brand new every year) if they wanted to. This is where I would like to get haha. I don't need to be rich, but my parents have made a lot of sacrifices in order for me to do well by putting me through school, and I'd like to make it so eventually our family can get to where we don't have to be in debt everytime a child goes to school.
I honestly believe that if you can get a child through school without having them get in debt, then they are set for life no matter what they do. I know that after law school it would make things a lot easier on me if I didn't have to be in debt and I could actually choose to do what I wanted, without worrying about making an extra 10,000 just to pay it off.
Who or what is the middle class?
