obama cell phones welfare
What is the real Definition for each working or non-working class?
When I was a Kid, being rich was some one who made millions of dollars, and middle class was people who made over 30 thousand, and poor was like minimum wage or not working at all. (welfare)
The Definition is always changing and now making over 200,000 makes you rich. And you can still be poor, even if you have a cell phone, big screen tv and cable in each room.
I think politicians are changing it to suit their needs. Also people are saying, the richer you are, the longer the horns on your head will be.
Obama said that the middle class is shrinking in size during the election. Was this a bad thing for him? I thought that it was shrinking, because people in the middle class, are making money and moving up the ladder.
In 2007, the median household income in the US was $50,233 while the poverty rate remained flat. That represented only a very modest increase after years of stagnation. That situation will probably change for the worse as a result of the dramatic decline in the economy and layoffs.
Only 2% of US households have incomes exceeding $250,000. Although that income does not define them as rich, the few percentage points difference in proposed taxes will not make them poor either. Note that, in the 1950s, the top tax rate was 91% and the country prospered.
The middle class has been losing ground over the years and that is one factor in our economic woes. This has been noted for years but only now are some people beginning to pay attention. A consumer-driven economy is dependent on a middle class that progresses economically and for the past few years the middle class has been stagnating or regressing.
The gap between the middle class and the wealthy has been widening. Even the gap between the very wealthy and the merely wealthy has also increased dramatically.
