As tax season approaches, many Americans question whether they are overpaying, particularly those identifying as middle class. Statistical insights reveal that 54% of Americans believe they belong to the middle class, a statement supported by 52% actually fitting the criteria. Furthermore, income thresholds for the middle class vary significantly based on geography. In a global context, even low-income Americans rank among the top 10% of earners globally, highlighting a relative wealth perception that shapes how Americans view their own financial status.
"H.L. Mencken once famously observed that 'wealth is any income that is at least one hundred dollars more a year than the income of one's wife's sister's husband'..."
"Relative to the rest of the world, even the poorest Americans rank in the top 10% of earners, globally."
Collection
[
|
...
]