Berkeley CSUA MOTD:Entry 54544
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2024/11/22 [General] UID:1000 Activity:popular
11/22   

2012/12/4-18 [Computer/SW/Languages/Java] UID:54544 Activity:nil
12/4    Holy cow, everyone around me in Silicon Valley is way beyond
        middle class according to Chinni's definition:
        http://en.wikipedia.org/wiki/American_middle_class
        \_ Let's set our goals higher:
           http://en.wikipedia.org/wiki/Upper_middle_class_in_the_United_States
           \_ How about this one?
              http://en.wikipedia.org/wiki/Millionaire
2024/11/22 [General] UID:1000 Activity:popular
11/22   

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2013/5/1-18 [Computer/SW/Languages/Java, Computer/Theory] UID:54669 Activity:nil
5/1     What's the difference between CS and Computer Engineering?
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        \_ One is science and the other is engineering.
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10/29   Go Away Sandy.
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2012/1/18-3/3 [Computer/SW/Languages/Java, Finance/Investment] UID:54290 Activity:nil
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2011/4/16-7/13 [Computer/SW/Languages/Python] UID:54086 Activity:nil
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en.wikipedia.org/wiki/American_middle_class
contemporary social scientists have put forward several, more or less congruent, theories on the American middle class. Depending on class model used, the middle class may constitute anywhere from 25% to 66% of households. Hamilton College commonly divide the middle class into two sub-groups. Constituting roughly 15% to 20% of households is the upper or professional middle class consisting of highly educated, salaried professionals and managers. places the range for middle class at individuals making between $25,000 and $100,000 a year. Ah yes, there's a group of people bound to run into each other while house-hunting. Members of the middle class belong to diverse groups which overlap with each other. Overall, middle-class persons, especially upper-middle-class individuals, are characterized by conceptualizing, creating and consulting. While the groups overlap, differences between those at the center of both groups are considerable. The lower middle class has lower educational attainment, considerably less workplace autonomy, and lower incomes than the upper middle class. upper middle class", consists mostly of white collar professionals, most of whom are highly educated, salaried professionals whose work is largely self-directed. Many have graduate degrees, with educational attainment serving as the main distinguishing feature of this class. These professionals typically conceptualize, create, consult, and supervise. As a result, upper middle class employees enjoy great autonomy in the work place and are more satisfied with their careers than non-professional middle class individuals. Increasingly salaried managers and professionals have replaced individual business owners and independent professionals. The key to the success of the upper-middle-class is the growing importance of educational certification... its lifestyles and opinions are becoming increasingly normative for the whole society. Values and mannerisms are difficult to pinpoint for a group encompassing millions of persons. Naturally, any large group of people will feature social diversity to some extent. However, some generalizations can be made using education and income as class defining criteria. In her 1989 publication Effects of Social Class and Interactive Setting on Maternal Speech, Erica Hoff-Ginsberg found that among her surveyed subjects, "upper-middle class mothers talked more per unit of time and sustained longer interactions with children". Upper middle class manners tend to require individuals to engage in conversational discourse with rather distant associates and to abstain from sharing excessive personal information. mass affluent households to be conservative on economic issues while liberal on social issues, the upper middle class seems to be relatively politically polarized. In the 2006 mid-term elections both Democrats and Republicans received over 40% of the vote from those with advanced degrees and those in households with six figure incomes. edit Lower middle class The lower middle class is the second most populous according to both Gilbert's as well as Thompson & Hickey's models, constituting roughly one third of the population, the same percentage as the working class. these are people in technical and lower-level management positions who work for those in the upper middle class as lower managers, craftspeople, and the like. They enjoy a reasonably comfortable standard of living, although it is constantly threatened by taxes and inflation. Generally, they have a Bachelor's and sometimes Master's college degree. The use of the term "working class" is applicable if the position of individuals, households and families in relation to the production of goods and services is the main determinant of social class. Class distinctions are seen in the distribution of individuals within society whose influence and importance differ. The nature of a person's work and the associated degrees of influence, responsibility, and complexity determine a person's social class. Factors such as nature of work and lack of influence within their jobs leads some theorists to the conclusion that most Americans are working class. They have data that shows the majority of workers are not paid to share their ideas. These workers are closely supervised and do not enjoy independence in their jobs. For example: The median annual earnings of salaried dentists were $136,960 in May 2006, indicating a high degree of scarcity for qualified personnel. The opinions and thoughts of dentists, much like those of other professionals, are sought after by their organizations and clients. edit Vernacular middle class The term middle class in more colloquial language use may refer to all those individuals who might at one point or another be identified as middle class, as they occupy neither extreme of the socio-economic strata. Most of those with households income between $40,000 and $95,000 identify as "middle class". The term can also be used to describe those at the actual center of the income strata, who may also be referred to as the middle-middle class. There are many different theories on the middle-middle class. The middle-middle class may be composed of those households with annual incomes of 80% to 120% of the national median household income. Persons in this income range could, in accordance to solely economic reasoning, be referred to as the American average. Here the middle class is defined as consisting of professionals or business owners who share a culture of domesticity and sub-urbanity and a level of relative security against social crisis, in the form of socially desired skill or wealth. Household income in the United States As social classes lack clear boundaries and overlap there are no definite income thresholds as for what is considered middle class. Sociologists William Thompson and Joseph Hickey estimate an income range of roughly $35,000 to $75,000 for the lower middle class and $100,000 or more for the upper middle class. Many social scientists including economist Michael Zweig and sociologist Dennis Gilbert contend that middle class persons usually have above median incomes. Unlike personal income, household income does not reflect occupational achievement as much as it measures the number of income earners. Sociologist Dennis Gilbert acknowledges that a working-class household with two income earners may out-earn a single-income upper-middle-class household, as the number of income earners has evolved into one of the most important variables in determining household income. Furthermore, household income fails to recognize household size. For example, a single attorney, earning $95,000, may have a higher standard of living than a family of four with an income of $120,000. relationship between the distribution of income and the class structure is... we saw dual-income working class marchers looking down on single-income upper-middle-class marchers. does not exactly match the distribution of household income. social strata, it might still be influential, as such definition may include the "professional middle class", which is then commonly referred to as the "upper middle class". Most ideas that find their way into the cultural mainstream... are crafted by a relative elite: people who are well educated, reasonably well-paid, and who overlap, socially and through family ties, with at least the middling levels of the business community--in short, the professional middle class. edit Typical occupations Office buildings such as this are often the place of work for the vast majority of middle-class Americans, whether they are upper-middle-class professional or lower-middle-class secretaries. There is great diversity among the occupations found among those living the middle-class lifestyle, and the appropriateness of some occupations being placed here will depend on each individual's personal outlook. Many of those in the statistical middle class might work in what are called the professional support fields. These fields include occupations such as dental hygienists, and other professional and sales support. In 2005, the average new home had a square footage of 2,434 squa...
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en.wikipedia.org/wiki/Upper_middle_class_in_the_United_States
lower middle class, which refers to the group at the opposite end of the middle class scale. There is considerable debate as to how the upper middle class might be defined. edit Professions Certain professions can be categorized as "upper middle class," though any such measurement must be considered subjective because of people's differing perception of class. Ivy League colleges and other top tier schools throughout the United States. They probably, more than any other socio-economic class, strive for themselves and their children to obtain graduate or at least four-year undergraduate degrees. This value is in line with the emphasis placed on education, as foreign travel increases one's understanding of other cultures and helps create a global perspective. American Professional/Managerial middle class for a complete overview of the American middle classes. Advanced education is one of the most distinguishing features of the upper middle class. The American upper middle class consists mostly of salaried white collar professionals. There are several perceptions of the upper middle class and what the term means. In academic models the term applies to highly educated salaried professionals whose work is largely self-directed. Many have graduate degrees with educational attainment serving as the main distinguishing feature of this class. Increasingly salaried managers and professionals have replaced individual business owners and independent professionals. its lifestyles and opinions are becoming increasingly normative for the whole society. Sociologists Dennis Gilbert, Willam Thompson and Joseph Hickey estimate the upper middle class to constitute roughly 15% of the population.
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en.wikipedia.org/wiki/Millionaire
The increasing prevalence of people with more and more money has given rise to additional terms to further differentiate millionaires. A multimillionaire has a net worth of more than 2 million units of currency, a decamillionaire has a net worth of more than 10 million units of currency, and a hectomillionaire has a net worth of more than 100 million units of currency. The term centimillionaire has become synonymous with hectomillionaire in America, despite the centi- prefix meaning 1/100, not 100, in the metric system. While statistics regarding financial assets and net worth are presented by household, the term is also often used to describe only the individual who has amassed the assets as millionaire. That is, even though the term statistically refers only to households, common usage is often in reference only to an individual. over how to correctly determine a person's status as a millionaire. One of the two most commonly used measurements is net worth, which counts the total value of all property owned by a household minus the household's debts. mutual funds, and a $325k vacation home with a $250k mortgage, $40k in car loans, and $25k in credit card debt would be worth about $1,085,000; and every individual in this household would thus be a millionaire. However, according to the net financial assets measurement used for some specific applications (such as evaluating an investor's expected tolerance for risk for stockbroker ethics), equity in one's principal residence is excluded, as are lifestyle assets, such as the car and furniture. Therefore the above example household would only have net financial assets of $80,000. real estate bubble up to 2007, average house prices in some US regions exceeded $1 million, but many homeowners owed large amounts to banks holding mortgages on their homes. For this reason there are many people in million-dollar homes whose net worth is far short of a million---in some cases the net worth is actually negative. edit Influence While millionaires constitute only a small percentage of the population, they hold substantial control over economic resources with the most powerful and prominent individuals usually ranking among them. Also, the total amount of money held by millionaires can equal the same amount of money held by a far higher number of poor people. Gini coefficient, and other measures in economics, estimated for each country, are useful for figuring out how many of the poorest people have the equivalent total wealth of the few richest in the country. edit Multimillionaire Another commonly used term is multimillionaire. As the term implies, multimillionaire applies to those individuals residing in households with a net worth or wealth of two million or more units of currency. Only a small minority of households are indeed multimillionaire households. The term also has a more prestigious connotation than millionaire. high net worth individuals (HNWIs) can also correctly be identified as ultra-high-net-worth individuals (ultra-HNWIs), those who reside in households with a net worth or wealth of $30 million or more. edit Number of millionaires in the world Number of millionaires and ultra-millionaires (more than $30M) The "World Wealth Report" is a report on individuals with a net worth of at least $1 million in all assets except their primary residence. The number of US households with a net worth of $1 million or more, not including first homes, fell by 25 million to 67 million in 2008, according to the Spectrum Group report, as reported by Reuters. After the 27 percent drop, the number of millionaires is at the lowest level since 2003, when the millionaire population stood at 62 million. The S&P 500 stock index has lost over half its value since the stock market peaked in October 2007, wiping billions from savings, while wealthy households also saw declines in the value of other assets such as property. The number of US households with a net worth over $5 million, again not including first homes, fell by 28 percent to 840,000. The Millionaire was the title of a 1955 TV series about an unseen man of wealth who gave away $1,000,000 to a different person each episode, and a 1931 motion picture about a retired millionaire who buys a gas station to ease his boredom.