The Upper Class
Upper-Uppers
-blue bloods or society
-less than 1% of US population
-membership is almost always the result of birth
-primarily inherited
-from stocks and bonds, real estate and other investments
-live in old, exclusive neighborhoods
-children are normally in private schools with children with similar backgrounds
Lower-Uppers
-where most upper class people fall
-the "working rich" who get their money mostly by earning it rather
than from inheritance
-3-4% of US population
-live in large homes in expensive neighborhoods, own vacation homes near the water or in the mountains, and send their children to private schools and good colleges
-often what is called the American Dream
Middle Class
Upper-Middles
-above average income in the range of $121,000-217,000 a year
-live in comfortable homes in fairly expensive areas, own several cars, and build investments
-2/3rds of children graduate from
college, and postgraduate degrees are common
-important in local political affairs
Average-Middles
-typically work at less prestigious white-collar jobs as bank branch managers, high school teachers, and gov. office workers or in highly skilled blue-collar jobs such as electrical work and carpentry
-income between $51,000-$121,000
-build up a small amount of wealth over the course of their lives (mostly retirement investment)
-likely to be high school graduates, but less
than 50% will complete a 4-year college degree
Working Class
-income between $29,000-$51,000
-little to no wealth and are vulnerable to financial problems caused by unemployment or illness
-many of these jobs provide little satisfaction
-jobs offer fewer benefits
-lower-cost neighborhoods
-earning a college degree is a reality for only about 1/5th of working-class children
The Lower Class
-20% of the population
-76% of children manage to complete high school
but less than 15% complete a 4-year college degree
-43% own their own homes
-most are in inner cities and rural communities
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