Reply to 31% of millionaires think they're middle class

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Millionaires ARE muddle class- they’re not poor, and they’re not phenomenally rich either. Up until the 1950s “middle class” meant something very different from “median income”. For most of human history, there were the aristocrats, the poor who worked the land, and a very small educated or tradesman class in the middle.

It’s the “middle class” that doesn’t realize they are actually poor or working class. If you can’t afford property, healthcare, education of some sort, and to not work for some period of your life, you’re not middle class, you’re working class. The fact that you have TVs, cars, and cheap food you bought on credit means nothing, really. [/quote]

middle class has a definition. A monetary one based on X% above the median income in an area considering for household size. 
It's not a feeling. And its not most of these posters.  [/quote]

What is the official definition and what is the source of the definition?[/quote]
there is no official definition but it isnt based on a feeling of what you can afford after you spend it all. and it has never been and will never be multiples of 100,000 plus bonuses. 
Brookings has it encompass a very wide swath [url]https://www.brookings.edu/articles/there-are-many-definitions-of-middle-class-heres-ours/[/url] but CBO doesnt seem to take into account location/COL from my readings
the pew research center has a calculator that takes those factors into account [url]https://www.pewresearch.org/short-reads/2020/07/23/are-you-in-the-american-middle-class/[/url]
in general it is been working class/poor and the wealthy. you are wealthy making 400k, 300, 200k. regardless of your location in the US and household size- by any calculator or measure. its intellectual dishonesty to state otherwise.
Just to show you how insane this discussion is:
200k in San Francisco with a household size of 15 people is middle class. 3 person household in San Fran is Upper on the same income. A 4-5 household on that income is middle class but Upper middle class. 
I can understand that it is difficult to look around you and see wealth and think that you are somehow relatively impoverished but it isnt factual. Its a feeling. Even in the wealthiest areas of the US, a 200k income for 3 people is Upper not middle class. [/quote]

Your argument is falling into the trap of basing middle class by average income of society. In reality it is not. Take a developing country, the average income may be, say, 5000 a year. But the middle classes make much more. Middle class is not average. The challenge with the US is we're leaving behind average to a different structure for defining class due to the rising K shape nature of the modern economy.[/quote]

Thank you for explaining how brookings, pew and CBO are all improperly defining middle class in the US based on the average income in Nepal. Have you thought about working for a think tank and sharing your wisdom?  [/quote]

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