The American middle class is a social class in the United States. While the concept is typically ambiguous in popular opinion and common language use, contemporary social scientists have put forward several more or less congruent theories on the American middle class. Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.
Household income figures, however, do not always reflect class status and standard of living, as they are largely influenced by the number of income earners and fail to recognize household size. It is therefore possible for a large, dual-earner, lower middle class household to out-earn a small, one-earner, upper middle class household.
What is the class-breakdown income-wise of American households?
First, a definition from WikiP:
But there is still a controversy about that definition, so read the rest of the article here.
Note nonetheless, this warning here:
Which means what? That we do comparative assessments not based upon individual income but dual-parent income - because as more women attain higher levels of education and thus income-status, the notion of "household" becomes more important than individual.
Here's yet another way to look at the Income Pie (data-wise, 2010), Source: Percentage of population by Income Group (WikiPedia):
Categorizing households as Lower-Middle-Upper Classes (Yearly Income, Census Bureau):
-Lowest-Class (up to $25K, which is the Poverty Threshold) - 28%
-Upper Lower-Class (25K$ to $50K*) - 23%
-Middle-Class (50K to $100K) - 29%
-Upper-Class (Beyond $100K) - 17%
So, our Lower-Class of households/families constitute more than half of the total? And our Middle and Upper-Class together are just a bit less than half of the total**?
WOW ... !
*$54K is the national median income in the US
**Which corresponds with the economist Thomas Piketty, who presents this Income infographic:
View attachment 67204665
Caveat: The above WikiPedia infographic is an analysis based upon Census Bureau interviews of families. Other studies have shown similar but not the same numbers.
________________
What is the class-breakdown income-wise of American households?
First, a definition from WikiP:
But there is still a controversy about that definition, so read the rest of the article here.
Note nonetheless, this warning here:
Which means what? That we do comparative assessments not based upon individual income but dual-parent income - because as more women attain higher levels of education and thus income-status, the notion of "household" becomes more important than individual.
Here's yet another way to look at the Income Pie (data-wise, 2010), Source: Percentage of population by Income Group (WikiPedia):
Categorizing households as Lower-Middle-Upper Classes (Yearly Income, Census Bureau):
-Lowest-Class (up to $25K, which is the Poverty Threshold) - 28%
-Upper Lower-Class (25K$ to $50K*) - 23%
-Middle-Class (50K to $100K) - 29%
-Upper-Class (Beyond $100K) - 17%
So, our Lower-Class of households/families constitute more than half of the total? And our Middle and Upper-Class together are just a bit less than half of the total**?
WOW ... !
*$54K is the national median income in the US
**Which corresponds with the economist Thomas Piketty, who presents this Income infographic:
View attachment 67204665
Caveat: The above WikiPedia infographic is an analysis based upon Census Bureau interviews of families. Other studies have shown similar but not the same numbers.
________________
What is the class-breakdown income-wise of American households?
First, a definition from WikiP:
But there is still a controversy about that definition, so read the rest of the article here.
Note nonetheless, this warning here:
Which means what? That we do comparative assessments not based upon individual income but dual-parent income - because as more women attain higher levels of education and thus income-status, the notion of "household" becomes more important than individual.
Here's yet another way to look at the Income Pie (data-wise, 2010), Source: Percentage of population by Income Group (WikiPedia):
Categorizing households as Lower-Middle-Upper Classes (Yearly Income, Census Bureau):
-Lowest-Class (up to $25K, which is the Poverty Threshold) - 28%
-Upper Lower-Class (25K$ to $50K*) - 23%
-Middle-Class (50K to $100K) - 29%
-Upper-Class (Beyond $100K) - 17%
So, our Lower-Class of households/families constitute more than half of the total? And our Middle and Upper-Class together are just a bit less than half of the total**?
WOW ... !
*$54K is the national median income in the US
**Which corresponds with the economist Thomas Piketty, who presents this Income infographic:
View attachment 67204665
Caveat: The above WikiPedia infographic is an analysis based upon Census Bureau interviews of families. Other studies have shown similar but not the same numbers.
________________
We ? YOU DONT LIVE IN THE UNITED STATES. You live in the basket case of a Socialist Country now inundated with Islamic Jihadist called France.
We dont want the cancer that turned France into what it is today in America
Yes, France has become a lower class nation. They should strive to be more like the US and then they wouldn't be a lower class nation.
But you must realize that these shifts in factor prices of which wages are one set are closely and inextricably linked to global shifts in allocation. So please, please stop trying to emtionalize the topic with populist false simplification.
Blah,blah, blah - "factor-price-shifts", me arse.
You refuse to face the facts of Income Disparity, largely due to a misbegotten Upper-income Tax Reformation pulled off by Reckless Ronnie in the 1980s. So, off you go on an argumentative tangent to salve your ego.
Come back with a valid reasoning substantiating the fact that the US is NOT one of the worst Developed Economies in terms of Income Disparity. (As seen here: International Income Inequality Map )
Lotsa luck! Cuz yer gonna need it ... !
________________________________
The thing is that you are all excited by the symptom of global development and beat a drum of envy that does so much harm to Europeans and makes their politicians continuously lie. That leads you to focus not on causes but on symptom alleviation. You are complaining about inequality from economic activities in a highly interwoven system. Don't you realize that taking an index and explaining it without looking at the dynamics of the international system is ignorant at best and obvious propaganda at the other end of the scale?
Oh, yeah - I am the root of all evil. And what else? The Dark Angel of Death?
.....
I am not sure it is a straight one for one comparison, between the US and France.
What you know of France would fit a thimble.
For instance:
*It has the best National HealthCare System in the world (see World Health Organization study here), and
*Free Post-secondary Education (vocational, 2- & 4-year) unlike the US where students are graduating with a $50K debt-albatross hanging around their necks (see here), and
*It is in the higher ranking internationally of GDP per capita, see here.
This is an Economics Forum, and you need to be more careful of what you say. Like substantiating your opinion with factual evidence?
Try it, you'll like it ...
___________________________________
What you know of France would fit a thimble.
For instance:
*It has the best National HealthCare System in the world (see World Health Organization study here), and
*Free Post-secondary Education (vocational, 2- & 4-year) unlike the US where students are graduating with a $50K debt-albatross hanging around their necks (see here), and
*It is in the higher ranking internationally of GDP per capita, see here.
This is an Economics Forum, and you need to be more careful of what you say. Like substantiating your opinion with factual evidence?
Try it, you'll like it ...
___________________________________
I am not sure it is a straight one for one comparison, between the US and France.
Standards of living vary greatly, but the meter stick of measure is quite different. An American might aspire to owning a 230 M2 home outside the city. A Frenchman on the other hand might aspire to an 80 M2 apartment near the metro.
Thanks for pointing out that this is an economics forum so, as a favor to you, I won't mention the constant terror attacks in France over the last few years, which are far more than what has happened in the US over the last few years. Let's break that down per capita! But, back to economics.
The US has, by far, the largest economy in the world. It represents over 24% of the world's economic output while France represents only a mere 3% and it is expected to stay that way through 2020. The US economy is eight times the size of France, who ranks 6th in size. You are a third world country in both the economy and terrorism.
World GDP Ranking 2015 - StatisticsTimes.com
So? You (plural) are lucky on that count. Europe has more Muslims than the US, and since a long, long time. And recently, the number has skyrocketed with the migrants from Syria.
But, so what? You had your heyday over in the Iraqi sandbox, and it cost Uncle Sam 4500 lives for Dubya to have recuperated the two six-guns that his father had gifted Saddam Hussein.
That ain't necessarily so. Your link compares the US and the individual EU-countries, but not the total (EU21).
When counting the EU vs the US (GDP), the situation changes. See here:
Where the US beats the EU21 (countries) is in GDP per capita (2015):
US = $55.8K
EU = $40K (71% of the US)
The EU will close that per capita GDP-gap with the US in five years. (Three years if the Dunderhead gets elected. ;^)
______________________________________
So now you're comparing one country to 21 countries added together? You will stop at nothing to try proving your point. And then you want to compare all the terror attacks on civilians in France to military lives the US lost in wars? That's comparing apples to oranges. Face the fact, France is a third world country whose liberal policies have destroyed the country.
Face the facts, France sucks!
But, back to economics. The US has, by far, the largest economy in the world. It represents over 24% of the world's economic output while France represents only a mere 3% and it is expected to stay that way through 2020. The US economy is eight times the size of France, who ranks 6th in size. You are a third world country in both the economy and terrorism.
For economic purposes, the EU is considered a single market-economy (goods and services internally move unhindered by import taxes) and therefore highly comparable to the US - which is also a combination of sub-states. (A fact that seems to escape you.)
And now, sarcasm ... the Dunderhead is waiting anxiously for your vote! :doh
____________________________
You just can't escape the fact that France is a loser. LOSER! First it's all you can talk about how great France is compared to the US and then when I throw up stats proving what a losing third world country it is, all of a sudden you switch the argument to the entire 20 plus countries EU.
The EU is such a loser that the UK even voted to leave! Put those facts in your pipe and smoke it.
Wrong again. What I told you, and evidently you did not read, is that the US economically is comparative to the EU and not France. Now, if you want to compare France with, say, California and Texas - which together have about the same population - then be my guest.
And we shall see in a decade or so when they come knocking on the door to get back in. Even their new PM was against leaving. The vote swayed to Out because of the migrants that the EU accepted over the past 18 months. London, for instance, voted solidly to stay in - and it is not impossible that Northern Ireland and Scotland will leave Great Britain to remain in the EU.
Most importantly, however, you do not understand that you are in an Economics Forum. I have no time for fools who refuse to debate the factual economic evidence.
I'm done with you.
____________________________________________
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?