Reply to Can we stop referring to households making $200 or 300K a year as "middle class"?

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Reply to "Can we stop referring to households making $200 or 300K a year as "middle class"?"

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[quote=Anonymous][quote=Anonymous]Well, it's based on Cost of Living where YOU live. In the close in neighborhoods in DC, NOVA and MOCo, that income puts a family of 4 squarely in the middle class. Yes, it isn't middle class as compared to the middle of the country but locally it is.  If you make $250,000 annually in this area you live a middle class existence based on what everything you spend your money in costs. It's all relative, PP.  [/quote]

Okay, let's change the equation.  If you took someone making $250K and they spent $150K on a stock portfolio, then complained that they only had to live a middle class existance, would you count them as middle class?  If you had someone making $1M in Manhatten and they lived in a luxury $2.5M condo on the upper east side, and then could only afford a middle class existence, would you call them middle class?  Living in prime locations is more expensive and that is a luxury.  You have $150K more income a year than the true middle class.  You chose to spend a lot of it on housing.  Making such a choice is not like cancelling values on two sides of an equation.  It's still additive.  You earn more money than 95% of the area and you spend more than 95% of the area.  In no way does this make you middle anything other than the middle of the top 10%.[/quote]

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