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by bronbron 4440 days ago
> They are solidly middle class

Not really. If you earn $120k a year (just over 6 figures) you're in the top 10% of income earners in the US. The fact that you think they're 'middle class' (and relatively speaking, I don't think you're wrong) is indicative of how bad the wealth gap has gotten.
2 comments
TheCoelacanth 4439 days ago
The bottom 50-90% of the top 10% of earners is very much part of what is traditionally called "middle class". People in high-paying professional occupations such as doctors, lawyers and engineers have always been considered part of the middle class. The upper class is made up of capitalists and high-level executives, not people who work for a living.

Source: http://en.wikipedia.org/wiki/American_middle_class#Academic_...

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bronbron 4436 days ago
Interesting! I didn't know there were different distinctions.

Still, I think your source really just proves my point: by no means is anyone earning 120K a year "solidly middle class". By pretty much all of the definitions you listed, 120K a year would either be "upper middle class", or "the rich" (e.g. find me a homeowner in SF who doesn't have >1 million in home equity).

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gaius 4440 days ago
Dollar figures are useless for this; got to factor in cost of living too.
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bronbron 4436 days ago
Sure, I'm not discounting that. I live in NYC, and the cost of living is certainly an adjustment to your wealth. That said, I think it would still be disingenuous to consider anyone making $120K a year middle class.
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