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Being middle class has emerged as a vital part of the 20th-century American pscyhe. The majority of Americans define themselves as middle class, regardless of their actual income level. This perception is obviously off-base, but with no official definition, it's hard to pin down how much Americans overestimate their middle-class status. It's not difficult to understand why they do it, though. Generations of immigrants to the United States have come seeking streets paved with gold. …

…back the middle class as we knew it. Whatever the trends, being middle income depends on one's earnings, but being middle class is a state of mind shared by nearly all Americans. Many who can afford the finer things in life will continue to identify with the masses who cannot, and vice versa. The values and lifestyle that middle class has come to signify in the 20th century will stay with us into the 21st.