define middle class ..

what income bracket would you call middle class?

define a millionaire then subtract 1 dollar

I remember Algore telling us that if you made a million dollars over 5 years then you were a millionaire.

So I guess anything under $250k makes you middle class or poor.

youre excused

Depends on the part of the country you live in.Cost of living has a lot to do with it.

ok scratch that .. I should have said in general or ask for and average figure, I wasnt looking for detailed numbers ..

Oops, the Dali Lama beat me to it but I want you to define what rich is. Should be easy for someone so brilliant as CJ. Later, I'll give Rush Limbaugh's definition if you get stuck.

Fuck Rush and the idiots who idolize him...

There was a very insightful response Ekim...I take it you don't know.

Ekim what is going on with you? I'm not feeling like you're an extremely handicapped person lately.

And Dali Lama are you saying that entire group makes up the middle class?

How are we defining class? I mean is it based on what kind of extras you can afford or how much money you make? And how many is one extra more than low class?

In Houston, $150,000 lets you live pretty darned good. In New York, it won't even pay the rent.

In MANHATTAN it won't pay the rent, but in most other areas it is still a decent wage. New York is not defined by one area of one major city. A good friend of mine does quite well for herself in New York on about 130K

I'd personally define "middle class" as follows: (Mind you.. this takes into account the average family of 4-- numbers vary based on family size)

Lower middle class--- Household income of 50-75K per year. In most regions, you get by alright without any help from social programs, but by no means have money to burn.

Middle class-- Household income of 76K- 150k per year. In most regions, you live pretty comfortably and are generally able to save for retirement, college, etc.

Upper middle class-- Household income of 151k-300k per year. Unless you insist upon living outside your means, this is generally quite a comfortable income level for a family of 4.

What is someone who used to make $75,00-$100,00 a year for 20+ years and now makes $36,00 a year and gratefull for it .

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what income bracket would you call middle class? Originally Posted by CJ7

Latest index
The national average wage index for 2010 is 41,673.83. The index is 2.36 percent higher than the index for 2009.

Indexed earnings used to compute initial benefits
When we compute a person's retirement benefit, we use the national average wage indexing series to index that person's earnings. Such indexation ensures that a worker's future benefits reflect the general rise in the standard of living that occurred during his or her working lifetime.

When indexing an individual's earnings for benefit computation purposes, we must first determine the year of first eligibility for benefits. For retirement, eligibility is at age 62. If a person reaches age 62 in 2012, for example, then 2012 is the person's year of eligibility. We always index an individual's earnings to the average wage level two years prior to the year of first eligibility. Thus, for a person retiring at age 62 in 2012, we would index the person's earnings to the average wage index for 2010, or 41,673.83. We would multiply earnings in a year before 2010 by the ratio of 41,673.83 to the average wage index for that year; we would take earnings in 2010 or later at face value. (See two examples of indexed earnings.)
Indexed program amounts
We use the average wage indexing series to update several amounts that are important to the operation of Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program.

OASDI contribution and benefit base (also known as the taxable maximum)
Retirement earnings test exempt amounts
Formulas for a primary insurance amount and maximum family benefits
Amount of earnings needed to earn a quarter of coverage ("credit")
"Old-law" contribution and benefit base (as determined under the law as in effect before the 1977 amendments)
Coverage thresholds for both domestic employees and election workers
Substantial gainful activity amounts for disabled beneficiaries and earnings that trigger a trial work period
In addition, the Pension Benefit Guaranty Corporation uses the national average wage index to compute flat-rate premiums for PBGC-insured single-employer and multiemployer plans, as required by the Deficit Reduction Act of 2005.

Determination of the National Average Wage Index for 2010
To determine the national average wage index for calendar year 2010, we multiplied the 2009 national average wage index of 40,711.61 by the percentage change in average wages from 2009 to 2010, as measured by annual wage data we tabulated. The wage data are based on wages subject to Federal income taxes and contributions to deferred compensation plans.

The average amounts of wages calculated directly from our data were $39,036.67 and $39,959.30 for 2009 and 2010, respectively. To determine the national average wage index for 2010 at a level that is consistent with the national average wage indexing series for prior years, we multiply the 2009 national average wage index of 40,711.61 by the percentage change in average wages from 2009 to 2010 (based on our tabulated wage data). In other words, the national average wage index for 2010 is 40,711.61 times 39,959.30 divided by 39,036.67, which equals 41,673.83.

Click here to see the government chart: http://www.ssa.gov/oact/cola/AWI.html

The average income nationally appears to be between 30,000 and 40,000.00 a year. (single wage earner)

If you use income only, and nit sccumulated wealth, I'd say 30th to 70th houselhold income decile, or the middle 60 percent. Probably $32 to 70k.

http://www.census.gov/compendia/stat...es/12s0690.pdf

70-90 percentile moderately well off $70-$125.

Well off $125 and up.

Grace I truly mean zero disrespect but 50-78k a year is far and away reg middle class here in Texas.

I can support an entire family w 300 channels, XM, onstar, 2 cars, plus the entire farm of animals on less than 50k a year.

The widening gap is killer though.

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