To: FITZ; Huck
I think 75% could be high --- however there are different definitions of middle class and it might depend on which is used. The problem is that the whole discussion of "class" was gotten going by Marx, and he never really defined his terms very well. The middle class were the people between the "wealthy" and the "working class"
The operational definition I go by goes something like this:
- If you work for a living, and have enough to pay the rent on an apartment and cheap transport to work, then you're working class
- If you make enough to own significant property (your own home or condo, a late-model car, a stock portfolio to be your retirement nest egg), and you can occasionally purchase the services of others to make your life easy (cleaning lady to come in on the weekend, guy to mow the lawn, going out to restaurant's and letting somebody else do the cooking) then you are middle-class
- If you have enough assets that you can maintain a middle-class standard of living without working, and have one or more full-time employee/servants then you are wealthy
171 posted on
01/02/2004 6:10:59 PM PST by
SauronOfMordor
(Nine out of the ten voices in my head told me to stay home and clean my guns today)
To: SauronOfMordor
The definition I usually use is:
If you aren't working or working only part-time or seasonal jobs and require government handouts, you're poor. Or if you're spending is more than your income and you're worth is a negative number, you're poor ---- which means even if you make $40,000 a year, if you are deep in debt, in danger of foreclosure, you are close to being poor. I've known people who made even more than that who ended up in bankrupcy.
If you basically can work to meet your expenses, you're middle class ---- some people can make $50,000 and pile up debt and are living pay check to pay check --- some can make $20,000 but live within their means and can save up some money.
If you don't need to work and can live off your investments or trust funds, then you're rich.
I think it's too hard to define with any set income ---- $15,000 in Tennessee and your parents left you a good inheritance is different than $15,000 in California and you get no help from parents and no money ever just falls your way. $20,000 if you have parents help with a down payment for a house and provide free babysitting is different than $20,000 and you have to do it all on your own.
You could make $40,000 --- live in a $3000 mobile home you paid for long ago, drive a 15 year old good-running car, and spend very little and end up rich in a short time.
175 posted on
01/02/2004 7:29:59 PM PST by
FITZ
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