Middle-Class Economics: The Definition Of Middle Class

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America has been known for its large population of wealthy middle class. But is it no longer the case with shrinking size of middle class since the year 2000. To uplift the middle class and narrowing the inequality gap, President Barack Obama proposed a plan to address the “Middle-Class Economics.” However, middle class can be a tricky term when most American identified themselves as middle class. To better identify the target beneficiary of such policy, this essay will discuss the definition of middle class, the meaning of middle-class lifestyle and who falls into the category of middle class. Middle class, a term without universal definition, has been evaluated from multiple perspectives including income, aspiration, net wealth, consumption

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