9 ways to know if you're middle class
There's no hard-and-fast definition, but surveys show what kind of income and lifestyle you're likely to have if you -- and others -- think you're middle class.
VIDEO ON MSN MONEY
Well, since I spoke at resale shops., I would say I am lower class or MAYBE lower-middle. Doesn't matter. I have what I need.
Living a Champaign life on a Beer Budget
I earn more money by myself than what the article claims is the family middle class income and my wife also does as well. So I guess that puts me in the VERY LOW end of the 1 percenter's that people say are getting rich. Trust me, I am not even close to rich. However, I see people all around me who I know have much lower income jobs and they are driving two nice cars, larger and nicer homes and all the extra toys like a boat or quads. They are going on yearly vacations to some pretty nice places as well. Me, I am shoveling my money into retirement and making sure my small home is paid off. I am starting to think, "Stupid Me".
So I scratched my head and wondered how are they affording all this when I know with my own pretty good wage that I couldn't afford it all....drum roll please - without going into a lot of debt?It is because these folks are neck high in debt. It part of the reason behind the housing crisis. There was a middle class living way beyond their means and buying an expensive home which put them on the edge of forclosure to begin with. So if one spouse lost their job, it was difficult to make the house payment. So guess what came out of that? A bail out and the same people are now able to go back and apply again for more government loans to get another home! I am starting to think "Supid Me".
Another problem are the people who are scamming the system. Yes, they may report the 'middle class' income of say $50k a year, but there is a lot of extra fraudulent income being made that is not reported. Cash under the table for construction work is very prevalent. I see the rolls of cash and I have had some of these contractors tell me a good discount is available if I pay cash. I personally know of someone who is making $70k a year and gets food stamps. She claims to be separated from her husband and then she claims head of houshold with four children. She buys them the latest cell phones and electronics. I am starting to think "Stupid Me".
Get rid of all these tax loop holes and the class warfare about raising the taxes on the rich and just go with a flat tax for ALL. Better yet, go with a national sales tax only and that takes care of the under the table transactions to avoid paying taxes and it also eliminates the tax loop holes to begin wth. The more you spend, the more kids you have, the more you pay. Yes, "Stupid Me".
My family and I are "upper Class" my husband alone makes 6 digits a year and we shop at Target, and Walmart. I dont think it matters how much you make, I think its consumer preference. Where you shop doesnt put you in a class.
Just about everyone is middle class. If you are upper class, believe me, you know you are and you don't know very many people who are not. If you are lower class, you know that too.
The other millions who are literate, work/are retired/in training, own/plan on owning houses/condos, get out the "good" china for holiday meals and have expectations that their children will exceed their own lifestyles fall into the great American Middle Class.
In The United States of America there are nine levels of classes; lower-lower, middle-lower, ................ ..............middle-upper, upper-upper! I think lower-lower starts with Honey Bo Bo and upper-upper ends with not Bill Gates, those that have had multi-millons of dollars for at least three generations.
God doesn't care and I don't either. Good People come from all levels and all walks of life!
THERE IS NO CLASS SYSTEM IN AMERICA!!!
We are all individual citizens who are out to achieve what is best for us and our families. Where in the Consitituion does it speak of a caste system? We must reject the language of the left.
THERE IS NO CLASS SYSTEM IN AMERICA!!!
We are all individual citizens who are
If you shop at WalMart you are not only hurting yourseof but you are hurting the entire country. WalMart's products consist of about 85% "Made In China". That will NOT solve our economic problems in this country. Demand that the store where you do your shopping bring in more "Made in America" products, products that will last and not be junk in a few weeks. Does anybody remember when you could hand down clothes? Not when they are made in China, they are for the most part crappy, cheap, junk. And DO NOT buy your pets food, treats, toys, or even bedding that has been made in China, it will harm them and may even kill them. Bedding you can wash but hang outside, after washing, in fresh air for a day or two to get the bad chemicals out.
There is nothing wrong with being labeled middle class but shopping at WalMart puts you into the stupid class!
No one mentioned that IF you are actually middle class (by money standard) you will get 25 K a year in SS when you are 66, since you made all that money and paid the SS taxes.
As far as college, find out if you are within the IQ of over 110 so you are actually college material (about 30-35 %) otherwise save your money, instead of trying college and dropping out, it is worse for you not to complete college, if you come to me for a job, because you either can not because your IQ is under 100 (50 % of all) or you are not stable, and I do not need that for my engineering shop at all, I do not have time for daily babysitting!--AND hopefully you have not made a big college debt----I unfortunately I see a lot like that, DO NOT GO TO COLLEGE, IF YOUR IQ IS NOT MENT FOR IT!
Such a silly article, I'm guessing the teenage inmates are running the asylum at MSN. The "Middle Class" was buried a very long, long time ago, along with that group they took decent journanlism, original ideas, class and decorum... p.s. But um, like we totally know what you vote and where you shop, but I FEEL like, you forgot to mention um where you like, buy your coffee... like Starbucks you are sooo middle class congrats! ... thanks Gen Y fascinating incite!
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market welcomed the new trading week with a mixed session that saw relative strength among large-cap stocks, while high-beta names underperformed. The Dow Jones Industrial Average (+0.3%) and S&P 500 (-0.1%) finished near their flat lines, while the Nasdaq Composite and Russell 2000 both lost 1.1%.
Equities began the day on a cautious note amid continued concerns regarding the strength of the global economy. Over the weekend, China reported its first decline ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'