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Concept
American upper class
Summary
The American upper class is a social group within the United States consisting of people who have the highest social rank, primarily due to economic wealth. The American upper class is distinguished from the rest of the population due to the fact that its primary source of income consists of assets, investments, and capital gains rather than wages and salaries. The American upper class is estimated to include 1–2% of the population.
The American upper class is seen by some as simply being composed of the wealthiest individuals and families in the country. The American upper class can be broken 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 have acquired their wealth more recently (e.g. since 1946), sometimes referred to as "Nouveau riche".
The main distinguishing feature 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 capital gains. Estimates for the size of this group commonly vary from 1% to 2%, based on wealth.
The rich constitute roughly 5% of U.S. households and their wealth is largely in the form of home equity. Other contemporary sociologists, such as Dennis Gilbert, argue that this group is not part of the upper class but rather part of the upper middle class, as its standard of living is largely derived from occupation-generated income and its affluence falls far short of that attained by the top percentile.
Many heirs to fortunes, top business executives, CEOs, successful venture capitalists, persons born into high society, and celebrities may be considered members of the upper class. Some prominent and high-rung professionals may also be included if they attain great influence and wealth.
In a 2015 CNBC survey of the wealthiest 10 percent of Americans, 44% described themselves as middle class and 40% as upper middle class.
Official source
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