What's "Middle income" to you?

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JamesMS
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Postby JamesMS » Wed Apr 15, 2015 12:14 pm

Wow, $450k as middle class income. To me that is a bit stretching it, but everyone has their own opinion. I can possibly see that if you were living in LA, Manhattan or places like that where you have to make that to have a descent lifestyle (average place to live, average car, etc...) In most cities, $450k, including DFW, that would be considered upper income.
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whit
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Postby whit » Wed Apr 15, 2015 2:33 pm

Some folks don't like labels

A lot would general themselves as middle class even if they're upper but definitely more so for those who are actually lower because no one really likes to say they're lower class

I am though, lower class that is.

Someone went in and got a 575k cashier check for a downpayment on a home; and I know folks who can wire 40k to Rochester, Mi to buy a condo, cash.

MemberSince99
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Postby MemberSince99 » Wed Apr 15, 2015 5:46 pm

JamesMS wrote:Wow, $450k as middle class income. To me that is a bit stretching it, but everyone has their own opinion. I can possibly see that if you were living in LA, Manhattan or places like that where you have to make that to have a descent lifestyle (average place to live, average car, etc...) In most cities, $450k, including DFW, that would be considered upper income.




Sorry I was just kidding. That's what one of our Congressmen said that anything over that was middle income to him. I was like must be nice.


I would tend to agree more with what people here are saying. It's all relative of course to your cost of living. But I do agree 450k is a pretty good income anywhere I can think of in the US.

JamesMS
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Postby JamesMS » Wed Apr 15, 2015 7:59 pm

MemberSince99 wrote:Sorry I was just kidding. That's what one of our Congressmen said that anything over that was middle income to him. I was like must be nice.


I would tend to agree more with what people here are saying. It's all relative of course to your cost of living. But I do agree 450k is a pretty good income anywhere I can think of in the US.


Oh, ok. I guess I just misunderstood. I could see a congressman saying something like that. I mean come on, they get paid pretty well for not doing much (sometimes). Hell, I should run for congress, just kidding. I would not want to do that.
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InCreditWeTrust
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Postby InCreditWeTrust » Tue Apr 21, 2015 6:56 pm

According to Mitt Romney "middle income" is 250k and less. I think he is right especially for a mid-size family.

[video]https://www.youtube.com/watch?v=kOLPs1M120g&spfreload=10[/video]


The liberal media and the Democrats of course attacked him for being out of touch, but what they don't realize is middle income means to be between the high-income and low-income, and 250k and less is actually statistically reasonable designation for middle-income in the US. That is considering a family of 4-6 persons, now of course cost of living and area of residence also factor in but as a general rule I think Mitt Romney got it right.

Now if we are talking about a single individual making 250k, that I would consider a high-income person.



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