Amused
Elite Member
- Apr 14, 2001
- 57,455
- 19,923
- 146
Not that I want to get in this conversation, but it is a fact the traditional middle class is shrinking. But, I had to respond to this - Sorry pal, but if you pay 50K in taxes you arfe making in excess of over $120K/year. While that isn't super rich, that is certainly upper class.
ranmaniac
Golden Member
- May 14, 2001
- 1,940
- 0
- 76
I guess I'm upper-middle class, but I know that my parents worked very hard to achieve it. My dad has a bachelors, masters, and PhD in Chemical Engineering, and one of the top experts in his field. He immigrated to this country on a scholarship, and strived to be in the top 1% of everything he did.
While most people will not be "super rich" I do think they have higher probability of achieving success if they are given the opportunity to pursue higher education.
While most people will not be "super rich" I do think they have higher probability of achieving success if they are given the opportunity to pursue higher education.
child of wonder
Diamond Member
- Aug 31, 2006
- 8,307
- 176
- 106
I live in Sioux Falls, SD, which is a town of about 150,000 people. Most are middle class here, but in the 15 years I've lived in this area I can see the middle class shrinking a bit in this area.
Personally, I'm middle class. I'm also a Linux Admin and make a little more than the OP but that also includes a little consulting on the side. Including my wife's income, we make about $72,000 year. For our small family of 4 that means we can afford a brand new $160,000 house (1800 sq. ft, 4 bed, 2 bath), two average cars (2001 ZX2, 2000 Taurus), and we manage to have almost $600 per month left for savings (though we need to increase our 401k from 6% to 10% or higher). However, like most of the country, we're one major financial disaster away from bankruptcy (at least until we get more money saved up).
The middle class is shrinking, but the problem is where those middle class people are going and I fear far too many are falling rather than rising.
Everyone needs to earn their own way and create their own success but a $53 million bonus is silly. There are so many people that are without basic needs through no fault of their own, especially children born into poverty.
Unfortunately, life is rarely fair. However, were I rich, I wouldn't let a day go by that I didn't dramatically improve someone's quality of life through generous, spontaneous cash donations (such as a Wal-Mart worker I saw the other day -- clean cut, 40s, and had his son at work with him helping stock shelves. I told my wife I would've loved to be rich to help him get back on his feet and into a better job).
Personally, I'm middle class. I'm also a Linux Admin and make a little more than the OP but that also includes a little consulting on the side. Including my wife's income, we make about $72,000 year. For our small family of 4 that means we can afford a brand new $160,000 house (1800 sq. ft, 4 bed, 2 bath), two average cars (2001 ZX2, 2000 Taurus), and we manage to have almost $600 per month left for savings (though we need to increase our 401k from 6% to 10% or higher). However, like most of the country, we're one major financial disaster away from bankruptcy (at least until we get more money saved up).
The middle class is shrinking, but the problem is where those middle class people are going and I fear far too many are falling rather than rising.
Everyone needs to earn their own way and create their own success but a $53 million bonus is silly. There are so many people that are without basic needs through no fault of their own, especially children born into poverty.
Unfortunately, life is rarely fair. However, were I rich, I wouldn't let a day go by that I didn't dramatically improve someone's quality of life through generous, spontaneous cash donations (such as a Wal-Mart worker I saw the other day -- clean cut, 40s, and had his son at work with him helping stock shelves. I told my wife I would've loved to be rich to help him get back on his feet and into a better job).
I'm middle class and i'm sure as hell not complaining. I couldn't ask for a better life, seriously.
Generally the only way to fix wealth inequality is via wealth redistribution. The obvious extreme of that was communism which was the near complete elimination of wealth inequality. The only problem is that doesn't help the poor very much, it just hurts the more well off. You can see this in quite a few European countries where their poor are just as poor as ours but our rich are far richer.
I really don't care if you think a six figure salary is not a lot, according to wiki when you approach 200k you are indeed upper class. And my 120K was just an estimate, odds are he makes more than that. I do agree standard of living varies on local, but it just irritates me when some one who make that much and more doesn't consider themsleves, well off or rich. They aren't in touch with what a majority of America lives off of, which is less than half this guy makes.
Thats just absurd. Regardless of what you might have read on ?wikki? there is no real arbitrary number that makes you ?rich?. A household making 120K a year is most definitely NOT rich. Depending on where he lives it would probably be mid-middle class. 120K a year is achievable by ANYONE who has the drive to get it.
This statement is just pure ignorance, and clearly not backed by any type of data. The ignorance amazes me, you are telling me the only reason everyone doesn't make $120k/yr is that they don't have the drive to get it?? You seriously must be one sheltered person because you are clearly out of touch w/ reality. And I live just outside of Chicago, i one of the richest countys in the country and 120k is anything but "mid-middle" class. The median income in this country for a 5 person household is just around 51K - that must be b/c everyone doesn't have the "drive" to do better for themselves. My guess would be you grew or are growing (as your narrow minded opinion suggests) up in a upper middle class area and school where you take all the opportunities that you have for granted. Not everyone has those types of things within their reach. Asshat.
http://www.ntu.org/main/page.php?PageID=6
Top 1% $328,049
Top 5% $137,056
Top 10% $99,112
Top 25% $60,041
Top 50% $30,122
Bottom 50% <$30,122
You're a moron if you say $120k is middle class, which says a lot about what it takes to make that kind of money. That puts you well into the top 10%, and 17k more would put you in the top 5%. That is what you call rich.
If 120k and 200k is not upper class, what the hell is?
Top 1% $328,049
Top 5% $137,056
Top 10% $99,112
Top 25% $60,041
Top 50% $30,122
Bottom 50% <$30,122
You're a moron if you say $120k is middle class, which says a lot about what it takes to make that kind of money. That puts you well into the top 10%, and 17k more would put you in the top 5%. That is what you call rich.
If 120k and 200k is not upper class, what the hell is?
AnyMal
Lifer
- Nov 21, 2001
- 15,780
- 0
- 76
Why are you pissed? Do you think those CEO's were born into their positions? What's stopping you from setting the bar high and aim for the top spot?
Have you ever read any of those people's biographies? Many of the come from very poor environment and became who they are today through hard work and dedication.
At the age of 19 I make 90K working as a roughneck on an oil rig with no formal education. My wife made 30K working in retail. That put our household income at 120K with two relatively un-educated workers. Now if I can do it then so can anyone else.
And I promise you, we are no where near rich. If you are unwilling to do that type of work to get ahead then that is your own problem. But the opportunities are defiantly out there. Perhaps if you get off the couch and look for them you might find some.
If you would have read my post i said a "HOUSEHOLD" income of 120K. That would be two earners making 60K each which by your numbers could be around 25% of the people (depending on the spouses income).
$120k in NY or Northern or So. CA would be middle class, and you wouldn't be able to afford a decent house at $120k.
Socialism has a lot to do with our declining middle class. Socialist laws have allowed the rich to stay at that level while keeping anyone else from reaching their status.
For every 1 who made it are thousands of others who tried just as hard and never got there. Don't discount the role that luck and natural ability has in these people's success.
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