If that's middle class, what's lower class, Mittens?

[mongers]

Frankly if I was a partisan I would want the other party to win.  The whole system is headed for a train wreck and it is safer to be able to sit there blaming the other guy the whole time.

I kinda feel like that's what we were saying in '08.

It's a Very long train, takes a while for whole thing to go over the edge.

[garbon]

Of course not.  You've lived in San Fransisco and NYC.  That's barely enough to get by.

Most of my life I lived in further out suburbs of LA and Boston.  Even though $250k would have been a pretty penny in those places, I'm not convinced that's what makes one upper class.

[The Minsky Moment]

Frankly if I was a partisan I would want the other party to win.  The whole system is headed for a train wreck and it is safer to be able to sit there blaming the other guy the whole time.

I kinda feel like that's what we were saying in '08.

It's a Very long train, takes a while for whole thing to go over the edge.

Indeed - the duration of time it takes between an obviously predictable train wreck and the actual wreck itself is referred to as a "Chavez"

[MadImmortalMan]

250k isn't rich. So if it's not middle class, what is it?

[frunk]

250k used to be rich, but the super rich have gotten so much richer than the rich that there's a big income range between middle class and what is now typically called rich.

[derspiess]

250k used to be rich, but the super rich have gotten so much richer than the rich that there's a big income range between middle class and what is now typically called rich.

I guess $25k was rich at some point as well.

[Ed Anger]

poors. 

[merithyn]

250k isn't rich. So if it's not middle class, what is it?

I know exactly one family that makes more than that: my brother's (makes $325k). The next closest household that I know would be less than $200k. The next would be under $100k. To me, any household with an income over $150k is on the wealthier end of things.

But then, I'm the poors and Romney couldn't care less what I think.

[derspiess]

To me, any household with an income over $150k is on the wealthier end of things.

Yikes.

[Admiral Yi]

Obama also has set his definition for "middle class" as families with income of up to $250,000 a year.

If that's middle class, what's lower class, Obama?

[mongers]

To me, any household with an income over $150k is on the wealthier end of things.

Yikes.

You don't look at the real state of your own country much, do you ?

edit:
Merry's real-life experience seems to be rather close to guess what, real life:

http://www.census.gov/hhes/www/cpstables/macro/032008/faminc/new07_000.htm

[frunk]

To me, any household with an income over $150k is on the wealthier end of things.

Yikes.

Household income of $150k puts you in the top 94 percentile, which means it's correct that that is the wealthier end of things.

[Phillip V]

250k isn't rich. So if it's not middle class, what is it?

I know exactly one family that makes more than that: my brother's (makes $325k). The next closest household that I know would be less than $200k. The next would be under $100k. To me, any household with an income over $150k is on the wealthier end of things.

But then, I'm the poors and Romney couldn't care less what I think.

How does your brother earn so much money?

[katmai]

Yeah Derspicy needs to stop hanging around all those pro football players and Garbon needs to just stop.

[mongers]

Yeah the reality is this, from those US census survey for 2007 (so not so out of date given the recession) US family incomes are:

over $250k  - 2.5 %
150k-250k  - 7.9 %
100k-150k - 15.3%

and from the bottom up:
below $17.5 - 10.1 %
17.5k-27.5k - 9.6 %
27.5k-37.5k - 9.5 %
37.5k-47.5k - 9.2 %
and fairly evenly distributed up to 100k


So America has a lot of rich families, but proportionately an awful lot more poor people.