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#1
posted to rec.boats
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middle class...
One helpful yardstick to judge whether you're middle class: Median
household income was $51,017 in 2012, according to the most recent U.S. census data. Robert Reich, a professor of Public Policy at the University of California-Berkeley and former Secretary of Labor, has suggested the middle class be defined as households making 50 percent higher and lower than the median, which would mean the average middle class annual income is $25,500 to $76,500. I am "guessing" the three most vocal "middle class" folks here (all who seem to own or boats worth a couple years income, and homes all over the country), are really "middle class"... no matter how much they insist they are. Nothing wrong with being rich, but to try to assume you struggle like "middle class" folks is comical... |
#2
posted to rec.boats
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middle class...
On 10/2/2014 8:50 AM, KC wrote:
One helpful yardstick to judge whether you're middle class: Median household income was $51,017 in 2012, according to the most recent U.S. census data. Robert Reich, a professor of Public Policy at the University of California-Berkeley and former Secretary of Labor, has suggested the middle class be defined as households making 50 percent higher and lower than the median, which would mean the average middle class annual income is $25,500 to $76,500. I am "guessing" the three most vocal "middle class" folks here (all who seem to own or boats worth a couple years income, and homes all over the country), are really "middle class"... no matter how much they insist they are. Nothing wrong with being rich, but to try to assume you struggle like "middle class" folks is comical... I'll have to work on figuring out what you are saying. Went over my head. |
#3
posted to rec.boats
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middle class...
On 10/2/2014 9:53 AM, Mr. Luddite wrote:
On 10/2/2014 8:50 AM, KC wrote: One helpful yardstick to judge whether you're middle class: Median household income was $51,017 in 2012, according to the most recent U.S. census data. Robert Reich, a professor of Public Policy at the University of California-Berkeley and former Secretary of Labor, has suggested the middle class be defined as households making 50 percent higher and lower than the median, which would mean the average middle class annual income is $25,500 to $76,500. I am "guessing" the three most vocal "middle class" folks here (all who seem to own or boats worth a couple years income, and homes all over the country), are really "middle class"... no matter how much they insist they are. Nothing wrong with being rich, but to try to assume you struggle like "middle class" folks is comical... I'll have to work on figuring out what you are saying. Went over my head. Just wondering where the bar is. Several here have noted that they are in the "middle class" but I am not sure we are all on the same page as to what is "middle class". Most rich folks I have known claim to be "middle class", but I am pretty sure their def is different than mine. So for the sake of conversation, when I say "middle class" I am not referring to folks who made 6 figures during their working years... I am talking about folks who are making between say, 40-80 in general upper middle class might get you up to 100,000 a year. Of course there is always the exceptions like NYC, etc... |
#4
posted to rec.boats
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middle class...
On Thu, 02 Oct 2014 10:02:08 -0400, KC wrote:
On 10/2/2014 9:53 AM, Mr. Luddite wrote: On 10/2/2014 8:50 AM, KC wrote: One helpful yardstick to judge whether you're middle class: Median household income was $51,017 in 2012, according to the most recent U.S. census data. Robert Reich, a professor of Public Policy at the University of California-Berkeley and former Secretary of Labor, has suggested the middle class be defined as households making 50 percent higher and lower than the median, which would mean the average middle class annual income is $25,500 to $76,500. I am "guessing" the three most vocal "middle class" folks here (all who seem to own or boats worth a couple years income, and homes all over the country), are really "middle class"... no matter how much they insist they are. Nothing wrong with being rich, but to try to assume you struggle like "middle class" folks is comical... I'll have to work on figuring out what you are saying. Went over my head. Just wondering where the bar is. Several here have noted that they are in the "middle class" but I am not sure we are all on the same page as to what is "middle class". Most rich folks I have known claim to be "middle class", but I am pretty sure their def is different than mine. So for the sake of conversation, when I say "middle class" I am not referring to folks who made 6 figures during their working years... I am talking about folks who are making between say, 40-80 in general upper middle class might get you up to 100,000 a year. Of course there is always the exceptions like NYC, etc... === In the NYC area the upper middle class starts around $300 to 400K annual income these days. My oldest son the lawyer just bought a condo in Brooklyn, decent place but only about 1200 sq ft and in a so so kind of area. It was somewhere in the vicinity of $1M plus he pays both NY and NYC income taxes. Youngest son bought a decent but not great house in the NY 'burbs, older place that needed a lot of work, around 2,000 sq ft in a very nice town. It set him back over $900K. He also pays NY and NYC income taxes. To be considered wealthy in the NYC area takes an annual family income of about $1m + or a net worth in excess of about $10M. Believe it or not there are quite a few people who qualify. |
#5
posted to rec.boats
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middle class...
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#6
posted to rec.boats
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middle class...
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#7
posted to rec.boats
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middle class...
On Thursday, October 2, 2014 3:56:16 PM UTC-4, wrote:
On Thu, 02 Oct 2014 14:00:40 -0400, F*O*A*D wrote: I think "middle class" is a tired-out descriptor with little accurate meaning these days. Lower, middle, and upper income are more easily definable and more easily adjustable for regional or geographical differences. Income is not really a very good measure of quality of life, even in the same area. A person who makes wise buying decisions and avoids a lot of unnecessary debt will live a lot better than a person who pays too much for things they don't really need and does it with borrowed money. Along the same lines, many people who are technically above the middle income, middle class line still consider themselves middle class. That's where they came from, and while they may be earning well above that imaginary mark, they are still living essentially the same as they used to. Yeah, they may not have to budget for that new set of tires, not worry about about a clothing budget, etc. But as their lifestyle naturally expanded in subtle ways, the money gets used up and after a while it doesn't feel like they are making that much more than they used to. While we've certainly spent some money along the way, my wife has always kept us grounded. We've socked away money for retirement. When that happens, if the SS checks are still around, they'll just be icing on the cake. |
#8
posted to rec.boats
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middle class...
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#9
posted to rec.boats
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middle class...
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#10
posted to rec.boats
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middle class...
On Thu, 02 Oct 2014 12:25:07 -0400, KC wrote:
if you live in NYC and make 130 and are still struggling to maintain a "middle class" lifestyle, maybe you "sacrifice a little", move out of the city 20 miles, buy a car and live like a king... === Not really. All of Long Island is expensive, as is North Jersey, Westchester, Rockland and Fairfield counties. You'd have to go 80 or 90 miles up the Hudson or way out into central Connecticut, well away from the coast and NY metro area. |
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