Current Events > What are your yearly income cutoffs to classify 'upper middle' and 'rich'

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MaddenDude--
11/03/20 2:15:35 PM
#1:


Assuming its broken down by: Low/poor, Low-middle, middle-middle, upper-middle, and upper/rich.

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Questionmarktarius
11/03/20 2:17:42 PM
#2:


Poverty Line
10x Poverty Line
100x Poverty Line
1000x Poverty Line
10000x Poverty Line

...that would make for some decent tax brackets, actually.
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MaddenDude--
11/03/20 2:19:28 PM
#3:


Lets use a 4 person household just for numbers. Poverty like is 26k, lets round to 25k. So in your opinion upper middle cutoff is making 25 million per year?
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philsov
11/03/20 2:25:45 PM
#4:


80-100% income
60-80% income
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The Popo
11/03/20 2:41:40 PM
#6:


If Im classifying someone as middle class, upper middle class, upper class, etc, Im going off net worth instead of annual income.

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MaddenDude--
11/03/20 2:43:20 PM
#7:


The Popo posted...
If Im classifying someone as middle class, upper middle class, upper class, etc, Im going off net worth instead of annual income.

What are your actual numbers?

Dont get why people are so afraid of posting actual numbers.
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Mr_Rian
11/03/20 2:43:52 PM
#8:


Questionmarktarius posted...
Poverty Line
10x Poverty Line
100x Poverty Line
1000x Poverty Line
10000x Poverty Line

...that would make for some decent tax brackets, actually.
No.

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The Popo
11/03/20 2:44:42 PM
#9:


Id say upper middle-class is between above $1MM and under $10MM.

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Questionmarktarius
11/03/20 2:45:11 PM
#10:


Mr_Rian posted...
No.
powers of 5 then?

5
25
225
625
3125

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Bananana
11/03/20 2:46:07 PM
#12:


MaddenDude-- posted...
What are your actual numbers?

Dont get why people are so afraid of posting actual numbers.
The issue is that it varies drastically from city to city

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southcoast09
11/03/20 2:47:55 PM
#13:


In my mind, youre not middle class until youre making $50,000/year. If you make $80,000-150,000, thats what I consider to be upper middle class. Anything over $150,000 is flat out rich to me.

If you make less than $50,000/year, youre going to struggle with stuff. You most likely cannot get a mortgage on a house because your rent is so high that the banks will see that you arent bringing anything in. You pretty much need $50,000/year to even qualify for a mortgage. If you cannot afford to own your own home (which probably isnt your fault), then how can you say that youre middle class? Thats just my view. Interesting to see what everyone else thinks.

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yunalenne10
11/03/20 2:49:23 PM
#14:


southcoast09 posted...
In my mind, youre not middle class until youre making $50,000/year. If you make $80,000-150,000, thats what I consider to be upper middle class. Anything over $150,000 is flat out rich to me.
Gross or Net?

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Iodine
11/03/20 2:51:04 PM
#16:


400k+ is rich.

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Prismsblade
11/03/20 3:00:10 PM
#17:


Upper middle class would likely fall around the 75-90k range. There assuming you aren't living anywhere crazy expansive should be income for you to comfortably afford a house, invest in retirement, vacation internationally and just enjoy life.

This is possibly earning far below this, but housing is the biggest obstacle in this regard.

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