income inequality / middle class

Who is Middle Class in the US?

Although we read and hear many references to the “middle class,” there is no official definition of who qualifies as middle class. Many people assume it means a certain level of income, homeownership, and a steady income. A recent study by the Pew Research Center defined middle class in relation to the median U.S. income of $55,000. Pew considered the middle class as households with 2/3 to 2 times the national median income ($55,000), which in 2010 amounted to $35,294 to $105,881 after taxes. Check out pew’s middle class calculator for European countries and the U.S.: http://www.pewglobal.org/interactives/european-middle-class-calculator/

As reported in the NYT “Middle class contracted in US over two decades, study finds” by Nelson D. Schwartz, April 24, 2017.

Source: Financial Planning for Women