More Americans now think they’re rich, but most still identify as middle class.
That’s according to the latest Rasmussen Reports.
The survey finds that 53% of American adults consider themselves middle class, slightly down from 60% in October 2021.
Another 22% consider themselves upper middle class.
Five percent (5%) think they are wealthy – up from two percent (2%) just two years ago – while 15% now say they’re poor.
What level of income defines “middle class”?
Forty-one percent (41%) believe, to be middle class, someone needs a yearly household income of $50,000-$100,000.
Another 21% think someone is middle class if they have an income between $25,000 and $50,000 per year.
Only 12% believe those earning less than $25,000 are middle class, while 18% say those earning between $100,000 and $200,000 per year are considered middle class.
Four percent (4%) say an income of more than $200,000 a year is necessary to be considered middle class.
To see survey question wording, click here.

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The issue is not really how much you make but the standard of living you enjoy on that income. If you make $40K and enjoy your life spending less than $35K per year, you may consider yourself middle class. If you make $100K and spend $120K per year, going into deeper debt each year, you are actually poor but may consider yourself upper class as you push to keep up with your neighbors.
With the dollar being devalued under the current administration, most of those who believed themselves to be in the middle class are actually falling down that ladder. Inflation requiring more income becomes a vicious cycle the most will not keep up with.