Q:

What is upper class income?

A:

Quick Answer

Families with household income above $100,000 per year are considered to be upper class in the United States. The top 5 percent are households that make more than $150,000 annually.

Know More

Full Answer

Median household income in the United States is $50,054 per year, according to the U.S. Census Bureau in a report issued in 2012. Middle class incomes range from $32,500 to $60,000 for households on an annual basis. While the bulk of Americans are considered middle class, there are more than 46 million people who live below the poverty line. As of 2012, the poverty line for a family of four is below $23,050 per year.

Learn more about Social Sciences
Sources:

Related Questions

  • Q:

    Is income inequality increasing?

    A:

    Income inequality has been increasing in the United States since the 1970s. An economic recession in the mid-1970s, changing economic policies that favor free-trade and deregulation, the decline of domestic manufacturing plants, the decline of union membership and stagnated wages have contributed to the growing income inequality in the United States.

    Full Answer >
    Filed Under:
  • Q:

    How many people become homeless each year?

    A:

    Approximately 3.5 million people become homeless in the United States during the course of a given year, according to the National Law Center on Homelessness and Poverty. Information on the extent of homelessness in the United States is difficult to quantify because of the nature of the problem.

    Full Answer >
    Filed Under:
  • Q:

    What is income inequality?

    A:

    Income inequality refers to a scenario in a society or population where household income is unevenly distributed. About 1 percent of the U.S. population earned 22.46 of income in 2012, for instance.

    Full Answer >
    Filed Under:
  • Q:

    Is Veterans Day a federal holiday?

    A:

    Veteran's Day is considered a federal holiday in the United States and is celebrated on Nov. 11 each year. This date was first established in 1919 by President Wilson and most recently signed into effect by President Ford in 1935.

    Full Answer >
    Filed Under:

Explore