Reply to How do I know if I am middle class?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The failure of people who make 200k, 500k, etc to realize they are rich, is exactly the reason why we have such income disparity in the United States. Holy shit. Holy cognitive dissonance. [/quote]

I disagree. The only reason why I make $200k (now, I started at 85k 11 years ago) is because I have two masters degrees and to do that I had to take out student loans of more than $100k. I fully recognize it is a choice to take out loans to get the degrees, but that choice came at a very high financial cost that still affects my disposable income. Gross income alone should not determine what class I am in if I could not have obtained that salary without my student loans.

[/quote]

OK, fine. How much do you pay in student loans a year? Subtract that from 200K and see if you aren't still up in the range that most Americans would call rich.

[/quote]

Your proposed adjustment would only work if the starting salary on graduation was $200k. Then it would be a dollar for dollar adjustment. You also disregard  interest rate on the loan, which, depending on the term could be about $50k on a $100k loan repaid over 10 years or over $100k if refinanced over 30.

And, again, the OP didn't indicate if s/he was asking about the DC area or middle class on a national basis. [/quote]

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