Illinois’ rising tax burden costs residents

[Gunny]

Don't know why anyone middle class still lives there. Because if you're middle class HERE, you would be homeless in IL. They will tax any and everything that can't get out of the State fast enough. All in the name of supporting its welfare state and lining politicians' pockets.

Illinois’ rising tax burden costs residents | Illinois | thecentersquare.com (https://www.thecentersquare.com/illinois/article_fdb20650-7204-11ef-bc37-17fce5e0811c.html)

[Kathianne]

Don't know why anyone middle class still lives there. Because if you're middle class HERE, you would be homeless in IL. They will tax any and everything that can't get out of the State fast enough. All in the name of supporting its welfare state and lining politicians' pockets.

Illinois’ rising tax burden costs residents | Illinois | thecentersquare.com (https://www.thecentersquare.com/illinois/article_fdb20650-7204-11ef-bc37-17fce5e0811c.html)

Two of 3 of my kids still there, one moved to MI last month. They are all doing well, I'm no longer sure what's middle class now? 1 is SAHM the others, both parents wirk. All have crossed 200k, but it sure doesn't go like it used too.

[Gunny]

Two of 3 of my kids still there, one moved to MI last month. They are all doing well, I'm no longer sure what's middle class now? 1 is SAHM the others, both parents wirk. All have crossed 200k, but it sure doesn't go like it used too.

No telling what is middle class nowadays. When I was busting my butt getting OT and the wife was making over $100k on her own, it seems we were still in debt. I guess it's where you're comfortable enough to not sweat paydays and can afford some nice-to-haves within limits?

Does seem the middle class is on the verge of extinction.

[Kathianne]

No telling what is middle class nowadays. When I was busting my butt getting OT and the wife was making over $100k on her own, it seems we were still in debt. I guess it's where you're comfortable enough to not sweat paydays and can afford some nice-to-haves within limits?

Does seem the middle class is on the verge of extinction.

The one whose wife brought Notre Dame law debt still complains, but near done with it. All own nice homes, take couple small trips a year. Big ones every 3-5. So that seems middle?

[Gunny]

The one whose wife brought Notre Dame law debt still complains, but near done with it. All own nice homes, take couple small trips a year. Big ones every 3-5. So that seems middle?

I really can't say. The US Federal Government standard appears to be you can pay all your bills and not be on any form of assistance. They keep the military about $5 above that level. What you are calling middle class for your kids is well off in my circle :) Eye of the beholder. Lot of distance between the aforementioned and billionaire, which appears to be current measuring stick. For statistical purposes rather than practical reality purposes, it appears the in between is all "middle class".

[Gunny]

Not sure if you can get this. When I try on my computer, paywall. I go it randomly on my phone. Not sure it's "the" answer, but it is "an" answer.

The gist of the story is apparently there is a bottom third, a top third, and everybody else in the middle in this model. What it basically addresses are the things the bottom third are foregoing/putting off like auto maintenance. The bottom 3rd supposedly are the DIY mechanics and when they are putting stuff off, it's an indicator of a problem. Likewise what they're skimping on grocery shopping at the Dollar Store at the end of the month.

Of course, the cheery side is if rates are cut this/next? week it should provide some long-term relief. Has me wondering just what they think long term relief does for short-term, shoestring skimping.

I confess I'm not necessarily a fan of BI. This caught my eye because of the conversation.

The Latest Sign Low-Income Americans Are Stretched Thin - Business Insider (https://www.businessinsider.com/low-income-americans-stretched-thin-auto-parts-dollar-store-spending-2024-9)

[Kathianne]

I really can't say. The US Federal Government standard appears to be you can pay all your bills and not be on any form of assistance. They keep the military about $5 above that level. What you are calling middle class for your kids is well off in my circle :) Eye of the beholder. Lot of distance between the aforementioned and billionaire, which appears to be current measuring stick. For statistical purposes rather than practical reality purposes, it appears the in between is all "middle class".

I guess my working definition has been along the lines of: own home; mid- range vehicle- keep 5-10 years; full participation in retirement fund; reasonable clothing and entertainment. If using credit, pay off with no interest. Live within pay and savings, only finance house and car.

Upper middle class nicer everything, more frequent big vacations. Lower middle would be down sizing all and much more likely to find family in crisis with economy like today's.

[fj1200]

I guess my working definition has been along the lines of: own home; mid- range vehicle- keep 5-10 years; full participation in retirement fund; reasonable clothing and entertainment. If using credit, pay off with no interest. Live within pay and savings, only finance house and car.

Upper middle class nicer everything, more frequent big vacations. Lower middle would be down sizing all and much more likely to find family in crisis with economy like today's.

I think I would put your working definition as more upper middle class. Mostly because of retirement fund participation and reasonable use of debt. Those two things will lead to an upper level of wealth compared to most.

[Kathianne]

I think I would put your working definition as more upper middle class. Mostly because of retirement fund participation and reasonable use of debt. Those two things will lead to an upper level of wealth compared to most.
Well since two of you said that, I guess I'm a product of where I grew up. While my folks were solid middle class, the city and county we lived in were upper middle class or lower rich I guess. LOL!

We had nearly the most affordable home on the street. ;)