Author Topic: Are you "Upper Middle Class"?  (Read 37903 times)

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Offline steve dave

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Re: Are you "Upper Middle Class"?
« Reply #175 on: February 02, 2015, 12:34:31 PM »
I like the quintiles kk. good job.

Offline sys

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Re: Are you "Upper Middle Class"?
« Reply #176 on: February 02, 2015, 12:36:38 PM »
Social class is not only determined by income by most sociologists, including the late, great KSU prof Richard Coleman.

i think ultimately it has to be based on money, but clearly current income fails to capture the dynamic.  as an example, i've been upper middle class (actually rich by any relevant global measure, but my father would fight you if you called him rich) my entire life, based on my parents' income and assets.  my own income has been almost irrelevant to my social class for almost that entire span.

you could instead base status on cultural characters, like education or whatever.  but i think all/most of those ultimately stem from familial wealth.
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Offline chum1

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Re: Are you "Upper Middle Class"?
« Reply #177 on: February 02, 2015, 12:37:58 PM »

Online michigancat

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Re: Are you "Upper Middle Class"?
« Reply #178 on: February 02, 2015, 12:48:28 PM »
I find the jump at 100-105k interesting. I noticed it on one of K-S-U's links, too.

Offline K-S-U-Wildcats!

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Re: Are you "Upper Middle Class"?
« Reply #179 on: February 02, 2015, 12:48:54 PM »


"grater than"? Where you'd get this chart?
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

Offline Cire

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Re: Are you "Upper Middle Class"?
« Reply #180 on: February 02, 2015, 12:51:55 PM »
Yeah, where did that chart come from???

Offline sys

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Re: Are you "Upper Middle Class"?
« Reply #181 on: February 02, 2015, 12:53:19 PM »
I find the jump at 100-105k interesting. I noticed it on one of K-S-U's links, too.

also at 50 and 150.  i think it's probably just roundnumberism.
"experienced commanders will simply be smeared and will actually go to the meat."

Offline K-S-U-Wildcats!

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Re: Are you "Upper Middle Class"?
« Reply #182 on: February 02, 2015, 01:05:50 PM »
Can't copy it over, but check out Table 1 here: http://taxfoundation.org/article/summary-latest-federal-income-tax-data-0 This is the data on 2012 returns, which appears to be the latest available from the IRS.

In summary, here is the Average FIT Rate by income:

Top 1% (> $435k): 22.8%

2-5% (> $176k): 18.3%

6-10% (> $125k): 13.3%

11-25% (> $73k): 10%

26-50% (> $36k): 7.2%

Poors (< $36k): 3.3%

I wish they had the "true" rate (taxes / gross income) but I'm not sure where I'd find that.
« Last Edit: February 02, 2015, 01:09:26 PM by K-S-U-Wildcats! »
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

Online Institutional Control

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Re: Are you "Upper Middle Class"?
« Reply #183 on: February 02, 2015, 01:12:14 PM »
Shouldn't geography factor in too?  I mean $70K in NYC isn't much but it's a lot in Tupelo, MS.

Offline renocat

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Re: Are you "Upper Middle Class"?
« Reply #184 on: February 02, 2015, 01:17:09 PM »
What concerns me more regarding the reduction of middle class income is the costs businesses will pass on to us to pay for complying with the huge volume of regulations being forced on them.  It used to be called unfunded mandates, now its progressive action.

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Re: Are you "Upper Middle Class"?
« Reply #185 on: February 02, 2015, 01:19:06 PM »
I think net worth might be a better indicator of economic  class.  Someone pulling down 200 but spending 190 of it every year isn't really wealthy.
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Offline puniraptor

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Re: Are you "Upper Middle Class"?
« Reply #186 on: February 02, 2015, 01:21:58 PM »
What concerns me more regarding the reduction of middle class income is the costs businesses will pass on to us to pay for complying with the huge volume of regulations being forced on them.  It used to be called unfunded mandates, now its progressive action.

out of character  :blindfold:

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Offline Kat Kid

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Re: Are you "Upper Middle Class"?
« Reply #187 on: February 02, 2015, 01:23:32 PM »
I think net worth might be a better indicator of economic  class.  Someone pulling down 200 but spending 190 of it every year isn't really wealthy.

Wealth is a separate but important issue.

Offline sonofdaxjones

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Re: Are you &quot;Upper Middle Class&quot;?
« Reply #188 on: February 02, 2015, 01:25:55 PM »
Hey now, I lol'd in this thread, no rage here, friends in EMAW (and other things)


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Offline sys

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Re: Are you "Upper Middle Class"?
« Reply #189 on: February 02, 2015, 01:26:02 PM »
What concerns me more regarding the reduction of middle class income is the costs businesses will pass on to us to pay for complying with the huge volume of regulations being forced on them.  It used to be called unfunded mandates, now its progressive action.

not sure if it's a class issue, but i agree.  taxes are honest, regulation-imposed costs are not.
"experienced commanders will simply be smeared and will actually go to the meat."

Offline 06wildcat

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Re: Are you "Upper Middle Class"?
« Reply #190 on: February 02, 2015, 01:31:09 PM »
Social class is not only determined by income by most sociologists, including the late, great KSU prof Richard Coleman.

i think ultimately it has to be based on money, but clearly current income fails to capture the dynamic.  as an example, i've been upper middle class (actually rich by any relevant global measure, but my father would fight you if you called him rich) my entire life, based on my parents' income and assets.  my own income has been almost irrelevant to my social class for almost that entire span.

you could instead base status on cultural characters, like education or whatever.  but i think all/most of those ultimately stem from familial wealth.

So based on how people think about money?

I was raised upper-middle class and my wife was raised lower-middle class. There's a vast difference in the psychology of money between the two despite not being too far apart earnings wise.

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Re: Are you "Upper Middle Class"?
« Reply #191 on: February 02, 2015, 01:33:19 PM »
Can't copy it over, but check out Table 1 here: http://taxfoundation.org/article/summary-latest-federal-income-tax-data-0 This is the data on 2012 returns, which appears to be the latest available from the IRS.

In summary, here is the Average FIT Rate by income:

Top 1% (> $435k): 22.8%

2-5% (> $176k): 18.3%

6-10% (> $125k): 13.3%

11-25% (> $73k): 10%

26-50% (> $36k): 7.2%

Poors (< $36k): 3.3%

I wish they had the "true" rate (taxes / gross income) but I'm not sure where I'd find that.

yeah, doing that off of AGI is pretty misleading (although it generally seems to be the best data available). I just checked and my pretax deductions lowered my AGI by well over 10%. Maybe it's balanced across income classes, but I'd guess the "upper middle class" receives more benefit from pre-tax deductions than the lower incomes.

Offline Dugout DickStone

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Re: Are you "Upper Middle Class"?
« Reply #192 on: February 02, 2015, 02:48:54 PM »
Social class is not only determined by income by most sociologists, including the late, great KSU prof Richard Coleman.

i think ultimately it has to be based on money, but clearly current income fails to capture the dynamic.  as an example, i've been upper middle class (actually rich by any relevant global measure, but my father would fight you if you called him rich) my entire life, based on my parents' income and assets.  my own income has been almost irrelevant to my social class for almost that entire span.

you could instead base status on cultural characters, like education or whatever.  but i think all/most of those ultimately stem from familial wealth.

So based on how people think about money?

I was raised upper-middle class and my wife was raised lower-middle class. There's a vast difference in the psychology of money between the two despite not being too far apart earnings wise.

You are supposed to marry for money bro, not the other way around.

Offline 06wildcat

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Re: Are you "Upper Middle Class"?
« Reply #193 on: February 02, 2015, 05:52:31 PM »
Social class is not only determined by income by most sociologists, including the late, great KSU prof Richard Coleman.

i think ultimately it has to be based on money, but clearly current income fails to capture the dynamic.  as an example, i've been upper middle class (actually rich by any relevant global measure, but my father would fight you if you called him rich) my entire life, based on my parents' income and assets.  my own income has been almost irrelevant to my social class for almost that entire span.

you could instead base status on cultural characters, like education or whatever.  but i think all/most of those ultimately stem from familial wealth.

So based on how people think about money?

I was raised upper-middle class and my wife was raised lower-middle class. There's a vast difference in the psychology of money between the two despite not being too far apart earnings wise.

You are supposed to marry for money bro, not the other way around.

Wife is the first in her family to graduate from college, now has three degrees and makes way more than I do.

Offline steve dave

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Re: Are you &quot;Upper Middle Class&quot;?
« Reply #194 on: February 02, 2015, 08:30:58 PM »
Nice work 06

Offline slobber

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Re: Are you &quot;Upper Middle Class&quot;?
« Reply #195 on: February 02, 2015, 08:49:07 PM »

I think net worth might be a better indicator of economic  class.  Someone pulling down 200 but spending 190 of it every year isn't really wealthy.

Wealth is a separate but important issue.
Wealth is more important than income. I think it should be part of the discussion, because you earn income on accumulated wealth.
But, I am also a dumbass, so what do I know.


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Offline gatoveintisiet

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Re: Are you "Upper Middle Class"?
« Reply #196 on: February 02, 2015, 09:21:34 PM »
since my wealth and income are both top1% on the planet, I'm just gonna assume I'm the richest man on this blob,   :kstategrad: feels good fellas, not gonna lie.  It should also be noted that money does not = happiness and is only really useful to buy meaningless crap anyway, obviously this concept is lost on the left though in their never ending desire to get their hands on more and more of my cash, in the end the jokes on them, sad really, it's just paper.
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Re: Are you "Upper Middle Class"?
« Reply #197 on: February 02, 2015, 09:29:35 PM »
There should be a way for the public to sue the federal government for wasting or negligently spending tax dollars. Something similar to what utilities have to go through to raise their rates.  There could be some advocate general or something elected by the public or appointed by the scotus or something.
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Offline Dugout DickStone

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Re: Are you "Upper Middle Class"?
« Reply #198 on: February 02, 2015, 11:36:57 PM »
There should be a way for the public to sue the federal government for wasting or negligently spending tax dollars. Something similar to what utilities have to go through to raise their rates.  There could be some advocate general or something elected by the public or appointed by the scotus or something.

The advocate general would just be a hack tho

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Re: Are you "Upper Middle Class"?
« Reply #199 on: February 03, 2015, 09:09:20 AM »
There should be a way for the public to sue the federal government for wasting or negligently spending tax dollars. Something similar to what utilities have to go through to raise their rates.  There could be some advocate general or something elected by the public or appointed by the scotus or something.

The advocate general would just be a hack tho

I envisioned some slick class action attorney. Obviously he'd get a percent of the judgment.  With  $4 trillion budget and egregious waste in the billions, I think we'd attract some talent.
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