Who are the Middle-class?

Are you middle-class? Both Presidential candidates state that they are better positioned to help the middle-class. We hear them say it during each debate, speech, and public appearance. Can someone please tell me to whom they are speaking?

I always assumed middle-class meant the middle 60% of American households based on income. If you look at a bell distribution curve, and remove the upper and lower 20%, then the middle section is the middle-class (sorry the finance background is coming out). If you agree with this definition, then the US middle-class income is between $19.2K and just under $100K. There are not many policies that benefit individuals on both ends of this range. The median, or middle, of the US household income is $50K. Approximately 8%-9% of American households are in this general range ($45K - $55K).

Because there is no definition, most everyone believes they are middle-class. My mother made $20K and had three kids, and I believed I was middle-class. I know a married couple with three children making $70K, and they consider themselves middle-class. Finally, I know a couple with three children, one in college, making approximately $200K. They would also consider their household as middle-class. They all believe that Obama and/or McCain are speaking to them when they refer to middle-class.

Our Presidential candidates know that by being vague they reach a larger audience, but their policies will likely impact only a small percentage of the “middle-class”. This is no more evident then the $700Billion bailout. The vast majority of the 80% of Americans making less than $100K only invest in Wall Street through pensions or 401K. With retirement age approaching 70, the only middle-class individuals with living expenses affected by Wall Street over the next two Presidential terms are those people age 60+. On the other hand, the resulting inflation and continuous devaluation of the dollar will impact every single American TODAY!!! Our economy is absolutely in trouble, but fallout from the bailout will only make things worse…at least for “middle-class” America.

Talk2Me

GrannyVendetta