The Parents of America’s Wealthiest One Percent

An interesting phenomenon in the United States is that, outside of those living in true poverty, nearly all other individuals self-identify as a member of the middle class. Teacher earning $3,500 per month as part of a Teach For America or related program immediately after graduation? That person identifies as a member of the middle class. Pulling down six-figures annually as mid-level investment banker? Identifies as a member of the middle-class.

Small business owner who earns $75,000 per year? Rightly identifies as a member of the middle class. Small business owner who grows that business to earn $300,000 per year? This person now identifies as a member of the middle class who happened to have a successful year.

Continue Reading!