The idea of class has been here since the beginning of human existed. We categorize ourselves as such base off the amount of money we make and own. I would be considered middle class, someone who has a shelter and can provide for himself in a healthy matter. I am always striving to become wealthy just like anyone else. But what is middle class to me? I believe even within the middle-class there are sub-levels people can categorize into. My family and I have just recently come to own a house, one of my parents have a steady job, and my siblings and I can receive some decent education. We can provide for ourselves quite well though sometimes there are issues with money that we come across. I would put myself in what I call subcategory middle (so it’d be the middle-middle class). There are those who are like us but struggle with money and are unable to sustain a steady amount of money where they can’t provide for themselves without no worries in which I would …show more content…
How do you know when you are rich? I could just say when I live in a lavish big house, with multiple cars and have maids clean my house. Just the stereotypical ideology of being rich. But being wealthy to me is someone who lives a life without worries of money and worries of any expenses. A life where I work to earn enough money where expenses in life aren’t a hassle is being wealthy to me. I don’t need a limo or a mansion or gold floor tiles to tell me I’m wealthy. Though the dream of obtaining such wealth to live like that doesn’t escape my mind at all. Though I don’t think I’d like it much as in a sense, I am constantly being judged by other rich folk and by others in the middle class and lower. Just think of the expenses that come with the big house, the electricity bill, personal and cleaning services, and multiple car payments. I rather just keep the money move to a nice apartment with good security and live like that. But everyone has a different idea of being
America is divided into two main groups, rich or poor. There is some grey area among these groups which is referred to as the middle class. The problem with the middle class is that most people think they belong in the middle class because they do not want to associate themselves with neither rich nor poor; there are stigmas attached to each side of the spectrum.
I consider my family and I to be in the middle class category and from being in the middle class, and the facts that are provided, the middle class is slowly declining as the time goes on. I believe that a lot of people go beyond the middle class to the upper middle class or people go below the middle class to the poor category. I’ve found a graph from Forbes that compares the rates of all classes from 1979 to 2014. From observing the graph my initial hypothesis was right. The middle class has declined by 6.8% between the years 1979-2014.
In America, our society is categorized by the poor, working, middle, upper middle, or upper class. Majority of America today seems to be under the working to middle class. It's hard to tell what
not defined by the middle class. These people are not lost in the void between the poor and
Class can be defined as a way society separates people into groups based on their socioeconomic
Society has categorized individuals depending on their financial status and their income; also known as social class. There are three original social classes in America, upper, middle, and lower class. The classes may sometimes be further divided into upper- upper, lower-upper, upper-middle and lower middle; with the working and lower classes at the bottom; working poor and underclass.
What comes into my mind when thinking on how to categorize those people that belong in the middle class, I look at such things as education, race, family, income, gender and how many people are in your household. I look at it as those people who are making between $40,000 and about $85,000 to be in the middle class while the next step would be the upper middle class and then to the upper class. Maybe I am wrong here, but like I said before, everyone wants to have that “I am middle class” attitude. The most recent Census Bureau survey data shows that the share of households with incomes of $75,000 or more has doubled in the past 24 years. Other studies, however, discover that more people who depart the middle class move down than up, at least temporarily.
Let's take it back to the past in regards to wealth distribution in this country. The fact is that the economy boomed from the end of WWII into the 1970's. “Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted terms between the late 1940s and early 1970s” (CBPP). Through the 70's economic growth slowed, and the wealth gap widened. Middle-class families were now considered lower class. People relied on the government to help them out with welfare programs. The middle-class class was weakened and the gap grew and grew. There were periods of positive fluctuation, however the middle-class simply never regained it's status that was held in more prosperous times in the past.
As stated earlier to achieve the traditional middle class status one would need to get a job, a house, become
Middle class Americans represent more than half of the United States’ population. They are the backbone of U.S. economics, and have been since the very beginning of the country’s history. However, an unstable job market, created by outsourcing, combined with a minimum wage which has not been raised since 1989, is gradually shrinking this economic group. To avoid the extinction of this critical class, the next president of the United States will have to go to extraordinary measures. Without major reformation, the middle class will continue to be absorbed by the lower class, ultimately resulting in the complete loss of one of America’s most important socio-economic bodies.
There are eight classes in America consisting of the rich elite, very rich-upper class, lower-upper class, upper-middle class, middle class, working class, working poor and the underclass. The percentages of families in the various classes as established by Gilbert are thought to be 1.4 percent in the upper top class, 1.6 percent in the lower top class. 1...
Who does not wish to be rich? The first thing that might come to mind when thinking about having a lot of money is owning luxurious cars, living in a prodigious residency, having expensive items to wear, or anything of that nature. A rich person has the ability to buy anything to please his or her desires, and he or she can visit any place at any time without having to think about it twice. Many people perceive that happiness comes from how much money they have. People confuse being wealthy with being happy.
Middle class is defined in different ways by different people. For example, Easterly describes middle class “as those lying between the 20th and 80th percentile on the consumption distribution” (Banerjee and Duflo 5); or Birdsall, Graham, and Pettinato says this class “as those between 75 and 125 percent of median per capita income” (Banerjee and Duflo 7). In America, people are divided into classes by many factors. The most popular factors are income and education. For income, people in this class make less money than upper class. Pew 's analysis in the article of Philip Bump says that middle class “holds less aggregate income than the upper class”; this is true. However, people in this class have better jobs and salaries than poor class. The working poor tend to have less stable jobs than their middle class brothers. Because of the temporary nature of these jobs, they have a
Rich people are the selfish people that only care about their wealth and about their