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by fleitz
4532 days ago
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It's the middle class, not middle income quintile. It would seem to be pretty ridiculous to me that more than 5-10% of America were doctors, lawyers, etc. Perhaps in the US it's the middle class includes the working class but in my estimation middle class means you still derive most of your income from working but you own a decent portion of the means of production. If the middle class means households making 100K then I would estimate that a couple working as tech support and a caregiver are middle class rather than working class. To me it works like this: You derive your income from capital: Upper class
You work and own a decent portion (5%+ unless public) of your employer: middle class
You work: working class.
eg. My mom was a phone operator, my dad was a mechanic, they're working class despite making more than $100K inflation adjusted. |
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I made no claim to the contrary. But if we are looking at income figures to try and guess class, 1) we're going to be doing a poor job if we're missing at least 4/5 of middle class people, 2) we're going to be talking about something other than what everyone else means when they say middle class, or 3) the situation has changed and it's a recent development that so few people are middle class and the models haven't caught up. If 3, we've either seen tremendous immigration/reproduction in the lower classes (somewhat possible in the small, but a five-fold increase would mean the earlier figures were pre-1900, which is unlikely) or we've seen a lot of people leave the middle class in a downward direction - which doesn't say good things regardless of how well the remaining middle class is doing. If 2, we might be able to have a meaningful discussion but it's likely a different one than most people in the discussion thought we were having. If 1, we should pick better numbers or simply refuse to include income in driving our estimates.