what does your networth have to be to be considered upper class

Social class in the United States

The American upper grade is a social group within the Usa consisting of people who have the highest social rank, primarily due to economical wealth.^[2] The American upper class is distinguished from the residuum of the population due to the fact that its primary source of income consists of assets, investments, and majuscule gains rather than wages and salaries. The American upper course is estimated to include 1 to two percent of the population.

Definitions [edit]

The American upper grade is seen by some equally but being composed of the wealthiest individuals and families in the country. The American upper class can be cleaved down into two groups: people of substantial means with a history of family wealth going back a century or more (called "old money") and people who accept acquired their wealth more recently (eastward.thousand. since 1946), sometimes referred to as "Nouveau riche".^{[3] [4]}

In a 2015 CNBC survey of the wealthiest x pct of Americans, 44% described themselves as middle class and 40% equally upper middle class.^{[five] [half-dozen] [7]}

Many heirs to fortunes, elevation concern executives, CEOs, successful venture capitalists, persons born into loftier guild, and celebrities may exist considered members of the upper form. Some prominent and high-rung professionals may too be included if they accomplish not bad influence and wealth. The main distinguishing characteristic of this class, which includes an estimated 1% of the population, is the source of income. While the vast majority of people and households derive their income from wages or salaries, those in the upper class derive their primary income from investments and upper-case letter gains.^[4] Estimates for the size of this group commonly vary from 1% to 2%, based on wealth.^[iii] Some surveys have indicated that as many as 6% of Americans identify as "upper grade." Sociologist Leonard Beeghley considers full wealth to exist the merely significant distinguishing feature of this course and refers to the upper class simply every bit "the rich."

Households with a cyberspace worth of $ane million or more than may exist classified as members of the upper class, depending on the definition of form used. While most sociologists estimate that simply 1% of households are members of the upper class, Beeghley asserts that all households with a cyberspace worth of $i one thousand thousand or more are considered "rich." He divides "the rich" into two sub-groups: the rich and the super-rich. The rich establish roughly 5% of U.S. households and their wealth is largely in the course of home equity. Other contemporary sociologists, such every bit Dennis Gilbert, argue that this group is non function of the upper form but rather part of the upper centre course, equally its standard of living is largely derived from occupation-generated income and its affluence falls far short of that attained by the top percentile.

The super-rich, according to Beeghley, are those able to live off their wealth without depending on occupation-derived income. This demographic constitutes roughly 0.9% of American households. Beeghley's definition of the super-rich is congruent with the definition of upper class used by well-nigh other sociologists. The top 0.01% of the population, with an annual income of $9.5 million or more, received 5% of the income of the Usa in 2007. These 15,000 families accept been characterized as the "richest of the rich".^[eight]

The members of the tiny capitalist class at the top of the hierarchy have an influence on economy and society far beyond their numbers. They make investment decisions that open or close employment opportunities for millions of others. They contribute money to political parties, and they often own media enterprises that allow them influence over the thinking of other classes... The backer class strives to perpetuate itself: Avails, lifestyles, values and social networks... are all passed from 1 generation to the next. –Dennis Gilbert, The American Grade Structure, 1998^[3]

Sociologists such as West. Lloyd Warner, William Thompson, and Joseph Hickey recognize prestige differences amid members of the upper grade. Established families, prominent professionals, and politicians may be deemed to have more prestige than some entertainment celebrities; national celebrities, in turn, may have more than prestige than members of local elites.^[4] However, sociologists fence that all members of the upper class have great wealth and influence, and derive nearly of their income from assets rather than income.^[3]

In 1998, Bob Herbert of The New York Times referred to modern American plutocrats as "The Donor Class", referring to political donations.^{[nine] [ten]} In 2015, the New York Times carried a list of top donors to political campaigns.^[eleven] The Christian Science Monitor noted the grade'south role in GOP presidential politics in 2014.^[12] Herbert had noted that it was "a tiny group – just ane-quarter of 1 percent of the population – and information technology is not representative of the rest of the nation. But its money buys plenty of access."^[9]

[edit]

This section needs expansion. You lot can help by adding to information technology. (January 2020)

Functional theorists in sociology and economic science^{[ who? ]} assert that the existence of social classes is necessary^[4] to ensure that only the most qualified persons larn positions of ability, and to enable all persons to fulfill their occupational duties to the greatest extent of their power. Notably, this view does not address wealth, which plays an of import role in allocating condition and power (run into Affluence in the United states of america for more than). According to this theory, to ensure that important and circuitous tasks are handled past qualified and motivated personnel, guild attaches incentives such every bit income and prestige to those positions. The more than deficient that qualified applicants are and the more essential the given task is, the larger the incentive will exist. Income and prestige--which are oft used to indicate a person'south social class--are incentives given to that person for meeting all qualifications to consummate an important job that is of high standing in society due to its functional value.^[13]

Information technology should be stressed... that a position does not bring ability and prestige because information technology draws a high income. Rather, it draws a high income considering information technology is functionally important and the bachelor personnel is for one reason or another deficient. It is therefore superficial and erroneous to regard high income as the cause of a homo's power and prestige, simply equally it is erroneous to think that a human's fever is the crusade of his disease... The economic source of power and prestige is not income primarily, but the buying of majuscule goods (including patents, good will, and professional reputation). Such ownership should be distinguished from the possession of consumers' goods, which is an index rather than a cause of social continuing. – Kingsley Davis and Wilbert E. Moore, Principles of Stratification.

Equally mentioned above, income is one of the nearly prominent features of social class, just is not necessarily one of its causes. In other words, income does non determine the status of an private or household, only rather reflects that status. Income and prestige are the incentives created to fill positions with the near qualified and motivated personnel possible.^[13]

If... money and wealth [alone] determine form ranking... a cocaine dealer, a lottery winner, a rock star, and a member of the Rockefeller family-are all on the same rung of the social ladder... [withal most] Americans would be unwilling to accord equal rank to a lottery winner or rock star and a member of one of America'due south most distinguished families... wealth is not the only factor that determines a person'due south rank. – William Thompson, Joseph Hickey; Society in Focus, 2005.^[4]

Education [edit]

Members of the upper class in American club are typically knowledgeable and accept been educated in "elite" settings.^[fourteen] Wealthy parents tend to have significant efforts to ensure their children volition maintain their class, oftentimes through educational opportunities unavailable to virtually. Upper-class parents often enroll their children in prestigious primary schools leading to similarly prestigious center and loftier schools, and hopefully elite, private colleges. Often graduating from schools such as those in the Ivy League, upper class members may join exclusive clubs or fraternities.

Religion [edit]

Individuals of a broad diverseness of religious backgrounds take become wealthy in America. However, the majority of these individuals follow Mainline Protestant denominations; Episcopalians^[15] and Presbyterians are virtually prevalent.^[16]

Empirical distribution of income [edit]

One 2009 empirical analysis analyzed an estimated fifteen–27% of the individuals in the top 0.1% of adapted gross income (AGI), including top executives, asset managers, law house partners, professional person athletes and celebrities, and highly compensated employees of investment banks.^[17] Amongst other results, the assay plant that individuals in the financial (Wall Street) sector constitute a greater percent of the top income earners in the United States than individuals from the non-financial sector, after adjusting for the relative sizes of the sectors.

Statistics [edit]

A study by Larry Bartels found a positive correlation between Senate votes and opinions of high income people, conversely, depression income people's opinions had a negative correlation with senate votes.^[18]

Top five states past high net worth individuals (more than $1 one thousand thousand, in 2009)[19]
State	Pct of millionaire households	Number of millionaire households
Hawaii	6.4%	28,363
Maryland	6.3%	133,299
New Bailiwick of jersey	6.2%	197,694
Connecticut	6.2%	82,837
Virginia	v.5%	166,596

Bottom 5 states by high net worth individuals (more than than $1 meg, in 2009)[xix]
Land	Percentage of millionaire households	Number of millionaire households
South Dakota	3.4%	ten,646
Kentucky	3.three%	57,059
West Virginia	three.3%	24,941
Arkansas	three.1%	35,286
Mississippi	3.one%	33,792

See as well [edit]

• African-American upper class
• American gentry
• Boston Brahmin
• Colonial families of Maryland
• Donor class
• Executive bounty in the U.s.a.
• First Families of Virginia
• The 4 Hundred (Gold Historic period)
• Household income in the United states
• Income inequality in the United States
• Old Philadelphians
• Planter class
• Social class in the United States
• Social Register
• Upper Ten Thousand
• Wealth in the United states
• White Anglo-Saxon Protestants

Notes and references [edit]

1. ^ "Upper class".
2. ^ ^{a b c d} Gilbert, Dennis (1998). The American Class Construction . New York: Wadsworth Publishing. ISBN0-534-50520-1.
3. ^ ^{a b c d due east} Thompson, William; Joseph Hickey (2005). Society in Focus. Boston, MA: Pearson. ISBN0-205-41365-X.
4. ^ "Millionaires say they're middle class"
5. ^ Who is centre form and why it matters Forbes, 4 August 2015
6. ^ The Center class Millionaire
7. ^ "The Richest of the Rich, Proud of a New Gilded Age", commodity by Louis Uchitelle, The New York Times, July 15, 2007.
8. ^ ^{a b} Herbert, Bob (July 19, 1998). "The Donor Course". The New York Times . Retrieved March 10, 2016.
9. ^ Confessore, Nicholas; Cohen, Sarah; Yourish, Karen (Oct ten, 2015). "The Families Funding the 2016 Presidential Election". The New York Times . Retrieved March x, 2016.
10. ^ Lichtblau, Eric; Confessore, Nicholas (Oct 10, 2015). "From Fracking to Finance, a Torrent of Campaign Cash – Elevation Donors Listing". The New York Times . Retrieved March eleven, 2016.
11. ^ McCutcheon, Chuck (December 26, 2014). "Why the 'donor grade' matters, especially in the GOP presidential scrum". "The Christian Science Monitor . Retrieved March 10, 2016.
12. ^ ^{a b} Levine, Rhonda (1998). Social Form and Stratification . Lanham, MD: Rowman & Littlefield. ISBN0-8476-8543-8.
13. ^ Doob, B. Christopher (2013). Social Inequality and Social Stratification in U.s. Society (1st ed.). Upper Saddle River, New Jersey: Pearson Education. ISBN978-0-205-79241-2.
14. ^ B. Drummond Ayres Jr. (2011-12-19). "The Episcopalians: An American Elite with Roots Going Back to Jamestown". The New York Times . Retrieved 2012-08-17 .
15. ^ Davidson, James D.; Pyle, Ralph E.; Reyes, David V. (1995). "Persistence and Change in the Protestant Institution, 1930–1992". Social Forces. 74 (1): 157–75 [p. 164]. doi:10.1093/sf/74.1.157. JSTOR 2580627.
16. ^ Kaplan SN, Rauh J. (2009). Wall Street and Master Street: What Contributes to the Rise in the Highest Incomes?. Review of Fiscal Studies.
17. ^ Based on Larry Bartels'due south written report Economic Inequality and Political Representation Archived 2011-09-15 at the Wayback Machine, Table ane: Differential Responsiveness of Senators to Constituency Opinion.
18. ^ ^{a b} Phoenix Marketing International Enquiry Shows Steep Reject In Millionaires in U.S.

Further reading [edit]

• Baltzell, E. Digby. Philadelphia Gentlemen: The Making of a New Upper Grade (1958).
• Beckert, Sven. The Monied Metropolis: New York Metropolis and the Consolidation of the American Bourgeoisie, 1850–1896 (2003).
• Brooks, David. Bobos in Paradise: The New Upper Class and How They Got There (2010)
• Burt, Nathaniel. The Perennial Philadelphians: The Beefcake of an American Aristocracy (1999).
• Cookson, Peter W. and Caroline Hodges Persell: Preparing for Ability: America'southward Elite Boarding Schools, Bones Books, 1989, ISBN 0-465-06269-five
• Davis, Donald F. "The Toll of Conspicious [sic] Production: The Detroit Elite and the Machine Industry, 1900-1933." Journal of Social History 16.1 (1982): 21-46. online
• Farnum, Richard. "Prestige in the Ivy League: Democratization and discrimination at Penn and Columbia, 1890-1970." in Paul W. Kingston and Lionel Southward. Lewis, eds. The loftier-status track: Studies of elite schools and stratification (1990).
• Foulkes, Nick. Loftier Gild: The History of America's Upper Class, (Assouline, 2008) ISBN 2759402886
• Fraser, Steve and Gary Gerstle, eds. Ruling America: A History of Wealth and Power in a Democracy, Harvard UP, 2005, ISBN 0-674-01747-one
• Ghent, Jocelyn Maynard, and Frederic Cople Jaher. "The Chicago Business Elite: 1830–1930. A Collective Biography." Business organisation History Review fifty.iii (1976): 288-328. online
• Hood. Clifton. In Pursuit of Privilege: A History of New York City's Upper Form and the Making of a City (2016). covers 1760-1970.
• Ingham, John Due north. The Iron Barons: A Social Analysis of an American Urban Aristocracy, 1874-1965 (1978)
• Jaher, Frederic Cople, ed. The Rich, the Well Built-in, and the Powerful: Elites and Upper Classes in History (1973), essays by scholars
• Jaher, Frederick Cople. The Urban Institution: Upper Strata in Boston, New York, Chicago, Charleston, and Los Angeles (1982).
• Jensen, Richard. "Family, Career, and Reform: Women Leaders of the Progressive Era." in Michael Gordon, ed., The American Family in Social-Historical Perspective,(1973): 267-80.
• Lundberg, Ferdinand: The Rich and the Super-Rich: A Study in the Power of Money Today (1968)
• McConachie, Bruce A. "New York operagoing, 1825-50: creating an elite social ritual." American Music (1988): 181-192. online
• Ostrander, Susan A. (1986). Women of the Upper Class. Temple University Press. ISBN978-0-87722-475-four.
• Phillips, Kevin P. Wealth and Republic: A Political History of the American Rich, Broadway Books 2003, ISBN 0-7679-0534-two
• Story, Ronald. (1980) The Forging of an Aristocracy: Harvard & the Boston Upper Form, 1800-1870
• Synnott, Marcia. The Half-Opened Door: Discrimination and Admissions at Harvard, Yale, and Princeton, 1900–1970 (2010).
• Williams, Peter Due west. Religion, Art, and Money: Episcopalians and American Culture from the Civil War to the Nifty Depression (2016), especially in New York City

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Source: https://en.wikipedia.org/wiki/American_upper_class

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