Social Class in the US

Social Class in the US - Social Class in the US .land of...

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Social Class in the US …land of equal opportunity?…
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Economic status is determined by income and wealth. Income – comprised of wages or salary, and investment earnings Wealth – comprised of capital assets (money, property, investments, and other assets)… …minus the debt owed
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United States: 20% richest 47% income (US Census, 2000) Mexico 20 % richest 49.5 % income 1984 and 53.6 % income 1989 (Library of Congress Country Study)
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In US society… Wealth Power But wealth and power do not necessarily equate to social status…even in the US. While there is some fluidity between strata, social standing is still shaped by birth. Being born with a ‘silver spoon’ still has meaning.
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Socioeconomic Status (SES) combines income, wealth, education, occupation factors – and also other social indicators such as race, ethnicity, age, gender and religion. Being born with no spoon also has significant consequences on an individual’s life chances…
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Upper upper – inherited blue bloods i.e. Rockefeller Lower upper – working rich i.e. Gates Upper middle – $80 – $160T comfortable Average middles – $40 – 80T moderately comfortable Working – $25 – 40T marginally vulnerable Lower – working poor and poor highly vulnerable A look at US strata by income …
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This note was uploaded on 04/22/2008 for the course SOC 1104 taught by Professor Norris-raynbird during the Spring '08 term at Bemidji State.

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Social Class in the US - Social Class in the US .land of...

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