So, a few reference points. In 1980: the median household income was $17.7k. The median income for one individual was $12k. $80k in 1980 is roughly equivalent to $240,000 in 2020.
That was top-end middle class, absolute minimum.
https://www2.census.gov/library/publications/1982/demographi...
$240,000 in Bay Area California is immensely different than $240,000 in the hills of West Virginia. Middle class is more of a lifestyle than a particular income number. It is entirely possible that middle class in a particular city includes people whose incomes are in the top 5% nationally, but still live barely comfortably because their high cost-of-living area.
I'd argue median income is irrelevant when it comes to assessing whether or not someone is living a middle class lifestyle.
Re:No, America is not collapsing
by onlyrealcuzzo on Tuesday May 10, 2022 @02:15PM
(#31330460)
This has some merit currently - but far less so in the past.
NYC and The Bay area have always been expensive. But the difference 40-years ago was nowhere near as drastic as it is today.
Re:No, America is not collapsing
by onlyrealcuzzo on Tuesday May 10, 2022 @12:54PM
(#31329374)
That would've been top 4% in income then.
Of course we also had the idea that "middle class" was more of an aspirational lifestyle goal and not a moving target. I guess if we just define it accurately as the median of real incomes we can see this range drop alarmingly. Thanks for the perspective.