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Former secretary of labor robert reich suggests that the middle class should be defined as households making between 50 below and 50 above the median.
Median income of middle class. This would put the middle class in the 34 352 to 103 055 income range based on the census median income of 68 703. The median income of the middle class as of 2016 was 78 442. The median net worth for the middle class hasn t changed for decades. In 2018 the national middle income range was about 48 500 to 145 500 annually for a household of three.
Other definitions of middle class income. Let s explore the differences further. Conversely the median net worth for the top one percent has performed extraordinarily well during the same time period. The think tank defines the middle class as households that are earning two thirds to double the national median.
Median family income is now august 2019 65 976 up from about 61 000 when he entered office january. The median or average income family has seen a gain of 5 003 since trump came into office. Let s take it one step deeper and look at various household sizes. Pew defines the middle class as households that have an annual pre tax income that is at least two thirds to double the national median that ranged from 48 500 to 145 500 in 2018.
For lower income households it was 25 624. Pethokoukis 2018 uses patterns in middle class consumption rather than income to assert that the middle class is absolutely better off now than it used to be while using a different measure cline 2019 finds that median incomes have risen modestly over the past 50 years. They are also taxed aggressively. High incomes come and go.
Real median household income the amount earned by those in the very middle hit 65 084 in 2019 dollars for the 12 months ending in july he wrote. That s the highest level ever and a gain of 4 144 or 6 8 since mr. Lower income households have incomes lower than two thirds of the median and upper income households have incomes that are more than double the median. Although making a high income is nice having a high net worth is more important.
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