Middle Class Struggles and the 350,000 Dollar Salary
A CNBC report authored by Sean Langlois analyzes how a $350,000 annual salary barely qualifies as middle class in major urban hubs like New York City and San Francisco. Utilizing U.S. Census Bureau data, the study illustrates that a family of four maintaining a traditional lifestyle with two cars and childcare may only see $121 in monthly cash flow. This financial pressure explains why many families struggle despite high nominal earnings.
cnbc· u.s. census bureau· middle class· cost of living· san francisco· new york city
00:09 Mo Facts with Adam Curry for September 16th, 2019, episode number seven. Two American dudes talking it up. Hey, Mo, how are you? I'm doing good. How are you doing, Adam? I'm doing real good. You know, it's Monday once again. That means Mo Facts around these parts of Austin. Yes. And as you know, the song goes, more money, more problems. That's right. Yes. Although, being an old guy, it's like, I just keep hearing Diana Ross. I don't hear anything else. I saw her in the round when I was 15.
00:49 That's pretty amazing. That's what this show is all about is perspective. You can hear the same thing and see it two different ways because when I hear that, I hear the notorious BIG, more money, more problems. Exactly. So speaking of which, more money, more problems, we spoke in the last show about families and people not wanting to have families or the difficulties of having families in these times. So as that show ended, beginning of the probably Tuesday, Wednesday, I got an interesting email from a friend. And the title of the article was, This budget shows how $350,000 salary barely qualifies as middle class.
01:34 Yes. I actually saw that a few days ago and I thought to myself, no wonder I'm struggling. But this is if you want to live in a city or just in general. I think in there, it was like cities such as New York City, San Francisco, you know, the major hubs. But I think this speaks to last show while families, this article spoke about a family of four, two working parents making, you know, a combined salary of $350,000. They, at the end, if you lived up to, and this goes to the thing that we talked about, you know, having the house and the cars and the picket fence and the trips to Disneyland.
02:20 It's what we all want. Right. If you lived that today, at the end of the month, I believe you will have $121 cash flow. Oh, man. My vape budget is more than that. After you pay for everything. So. Now, who did this? Who put this study together? Who was the genius? This was published on CNBC and the numbers are according to the U.S. Census Bureau. And this was on, let's see, the website was. Well, this is, you sent me a link from MSN, but I think the, maybe the original. Excuse me. Yeah. Yes. So it was written by Sean Langlos.
03:05 Langlois. Langlois, something like that. Yeah. Langlois, maybe French, yeah. So as we see, more money, more problems. And that kind of explains, puts a button on what we talked about last show. So, but as we see moving forward into this show, we're going to talk about how more money can cause more problems. So how's that gray Twitter feed line going for you? I want to test it out. To be very honest, I was in, we were away this weekend. We were in Las Vegas, went to see Bruno Mars. So I really haven't been looking too much at the gray Twitter, but I'm keeping up, Mo.
