Middle Class Analysis Essay Example
Middle Class Analysis Essay Example

Middle Class Analysis Essay Example

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  • Pages: 2 (538 words)
  • Published: October 18, 2017
  • Type: Analysis
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In the modern democratic-capitalistic society, the interconnectedness between money, labor cost, profitability, and knowledge involves monetary costs. Labor cost is crucial for sustaining a democratic capitalistic society as it is tied to money in a market-based economy. Money holds arbitrary value while labor costs can impact profitability. Moreover, knowledge has the potential to temporarily increase profitability.

Society consists of three main classes: upper class, middle class, and lower class. Each of these classes can be further subdivided into subsets such as ultra-rich, wealthy, upper-middle class, middle-middle class, lower-middle class working poor, and poverty level.

The upper class earns between $250,000 to $1 million per year. Wealthy individuals within this category have incomes starting at $250,o00 and are able to accumulate lifetime savings and investments. The ultra-rich have incomes exceeding $1 million per year and lead care-free lives.

The middle class

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earns between $35,o00 to $250,o00 per year. Within this category, the lower-middle-class earns between $35,o00 to $60,o00 annually and typically live paycheck to paycheck. The middle-middle-class earning between $60,o00 to $100,o00 per year has more discretionary income and enjoys a higher standard of living.The upper-middle-class, earning between $100,000 to $250,000 per year, can afford investments, vacations, and a comfortable lifestyle. Conversely, the lower class earns less than $35,000 annually. Within this category are the working poor who earn $19-35,000 and often rely on government assistance like food stamps, housing support, and medical care. The poverty class consists of individuals making less than $19,000 per year and face challenges such as unstable employment, lack of healthcare coverage or reliable housing.

Poverty persists in our current democratic-fatalistic society due to various factors. One major concern is the widening income gap between low-paid and

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high-paid workers in the United States - a leading capitalist democratic nation. This inequality stems from the increasing value placed on advanced knowledge and skills when determining wages. Consequently, those without adequate education have limited income opportunities compared to those with higher levels of knowledge and skills.

Succeeding in today's knowledge-based capitalist world necessitates a strong commitment to learning and education. It should be noted that within this income group most individuals do not have full-time employment.

Many individuals in this group lack literacy skills or dropped out of high school. A significant portion of females within this group either were teenage mothers or currently find themselves in that situation.Their income primarily comes from welfare programs like Aid to Families with Dependent Children. These individuals often work either part-time or full-time jobs that pay close to the government-mandated minimum wage. To supplement their earnings, they rely on food stamps and live in low-income housing subsidized by the government. Additionally, they depend on government-assisted medical services.

The question arises about the future importance of families with two earners. In the 1900s, more middle-class households saw an increase in women seeking permanent employment and successfully achieving it. Earnings from these jobs played a crucial role in helping these families move up the social and economic ladder - transitioning from working-poor status to lower-middle class, eventually reaching middle-middle and upper-middle class statuses. By 1998, the median family earnings for households with two wage-earners amounted to $61,675.

Individuals within this group now carefully evaluate job opportunities and compensation as they strive for a better quality of life.

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