What is Middle Class?

[FRPLG]

This is a great discussion issue because it goes straight to the heart of some serious tax issues.

There are so many variables that I think it almost impossible to make a definition.

[cpayne5]

I don't know that the term 'middle class' can be defined accurately, but I would venture to say that natural psyche of Americans would generally lead them to believe that the upper class consists of anyone making more than they do.

Great question, btw Saden. I have often thought about this myself.

[724Skinsfan]

As cpayne noted, if I were single and making 85K here in SW Virginia, I would be living like a king easily. Now if I were stupid enough to buy a 50K+ car and a 500K home and eat out at high dollar restaurants everynight then I would probably have very little spending cash (savings) thus I may think that I'm not doing so well.

It's all boils down to how you decide to spend your money and where you live.

[Schneed10]

Originally Posted by 724Skinsfan

As cpayne noted, if I were single and making 85K here in SW Virginia, I would be living like a king easily. Now if I were stupid enough to buy a 50K+ car and a 500K home and eat out at high dollar restaurants everynight then I would probably have very little spending cash (savings) thus I may think that I'm not doing so well.

It's all boils down to how you decide to spend your money and where you live.

It is impossible to be making enough to afford a $50,000 car (if you can't make the car payments without sacrificing other things, then you can't afford it), and not be considered on the upper end of middle class.

I agree that putting a salary on middle class is impossible, because cost of living varies so much from state to state (and sometimes within states). But middle class people, when married, make enough money to:

- Own a modest but satisfactory home
- Own two safe and somewhat reliable cars
- Have medical insurance
- Eat as the FDA recommends on the food pyramid (can afford fruits, veggies, and lean meats)
- Keep up with the phone, electric, and water bills
- Maintain the home to modest but satisfactory levels
- Provide for two or three kids with modest but satisfactory clothes and shoes

If you cut all of your luxury spending, and you still can't afford the above as a married couple, I'd call you below middle class.

By this definition, there are quite a number of people in the US falling below this line. Too many, actually. If you're single, I think the same things apply, but replace own the home with pay rent for a modest but satisfactory 1 bedroom apartment, make it one car instead of two, and make it no kids.

[firstdown]

To go allong with this how long could you last without a pay check? I think I cloud go about 1 1/2 yrs maybe a little longer.

[Sheriff Gonna Getcha]

Originally Posted by firstdown

To go allong with this how long could you last without a pay check? I think I cloud go about 1 1/2 yrs maybe a little longer.

I'd last about one hour. After that, I'd have to visit old men in train station bathrooms.

[ArtMonkDrillz]

Originally Posted by Sheriff Gonna Getcha

I'd last about one hour. After that, I'd have to visit old men in train station bathrooms.

Ewww, I just got a mental image from the movie The Basketball Diaries and now I want to puke.

I think middle class probably has more to do with how much you spend, either for wants or needs, than how much you make (although the two usually go hand in hand).

[Sheriff Gonna Getcha]

Originally Posted by ArtMonkDrillz

Ewww, I just got a mental image from the movie The Basketball Diaries and now I want to puke.

I think middle class probably has more to do with how much you spend, either for wants or needs, than how much you make (although the two usually go hand in hand).

Good call, that was the movie I was thinking of when I posted.

[cpayne5]

Originally Posted by firstdown

To go allong with this how long could you last without a pay check? I think I cloud go about 1 1/2 yrs maybe a little longer.

Honestly, not that long, but probably longer than most my age. 9 months, maybe. But I'd get a big tax refund the following year thanks to the downtime!

[firstdown]

Originally Posted by cpayne5

Honestly, not that long, but probably longer than most my age. 9 months, maybe. But I'd get a big tax refund the following year thanks to the downtime!

The rule of thumb is 6 months so your ahead of the game and most other people.

[saden1]

Originally Posted by firstdown

To go allong with this how long could you last without a pay check? I think I cloud go about 1 1/2 yrs maybe a little longer.

It depends, if i am allowed to dive into my 401K, liquidate my properties and belongings, and move to the boondocks I can probably survive about 6 years. If I have to stay put in my current arrangement I won't last more than 10 months.

[GhettoDogAllStars]

Some good definitions:
define:middle class - Google Search

I'd say the middle class is easy to define: not the lower income makers, and not the upper income makers. That said, the monetary definition of middle class is ever-changing.

[TheMalcolmConnection]

Middle class baby! WOOT.

[Schneed10]

How you know if you're above middle class, you can do all the things I listed above, plus have the ability to:

- Send two or three kids to the college of their choice without them needing any student loans
- Afford an upscale house
- Afford upscale cars
- Be debt free
- Feel comfortable that your retirement is secure

[Schneed10]

Another thought, what defines your class isn't what you do with your money. It's what you have the ability to do.

If you make $40,000 here in the Philly area as a single guy, and you buy a BMW and you eat out and rack up big bar bills all the time, and you find yourself in debt and unable to pay your electric bill, I'm sorry, I don't feel sorry for you. You're middle class. You make enough money to support yourself adequately and comfortably by any developed nation's standards. It's the choices you're making that are putting you in your situation.

If you have no choice but to sacrifice things like health insurance or heat, then you are living at below-middle class levels.