At what income is an American considered “rich”?
According to the US Census Bureau the following are income Quintiles (each is 20% of the population) Bottom 20%: $0 – 17,984 (3.4% of the income) Lower Middle 20%: $17,985 – 34,000 (8.7% of the income) Middle 20% $34,001 – 54,453 (14.8% of the income) Upper Middle 20% $54,454 – 86,867 (23.4% of the income) Top 20% $86,867 – No limit (49.8% of the income) Also interesting is the following statistic: Top 5% $154,120 – No limit (21.4% of the income) Of course, everyone in the US thinks that they are middle class. I have also noticed that the two political parties define middle class Americans differently. Republicans are referring to College educated, professionals of the middle and upper middle quintiles. Democrats are referring to High School educated, working class people of the lower middle and middle quintiles.
