Making $200K and still not upper-class? How skyrocketing living costs are redefining wealth in the U.S as people earning six figures are still struggling

Americans earning six-figure annual salary are not getting recognized as upper-class in parts of the country, as per a report.

If American households earn $199,000 per annum in New Jersey, Massachusetts, they are categorized as middle-class. Same earning parameter falls to $108,000 for those who are living in Mississippi, Fortune reported.

However, there was a time when the earning six-figure salary was synonymous to upscale lifestyle.


Earlier in March, a Reuters/Ipsos survey found that just one in three Americans approve of President Donald Trump's handling of the cost of living in the U.S., a sign of unease as he enacts steep tariffs on imports that are stoking inflation worries.

The two-day poll, carried out just before the Republican president was due to address a joint session of Congress, showed Trump's approval ratings below 40 per cent on a range of issues - including the economy, foreign policy and corruption - with the notable exception being his 49 per cent rating on immigration policy.

Economists said that the tariffs will fuel inflation. Trump's victory in the 2024 presidential election owed in part to widespread dissatisfaction at several years of high inflation under Biden. Only 31 per cent of people polled agreed with a statement that tariffs would be a good idea even if prices increase.

Government reports last week pointed to persistently high inflation in January. When adjusted for higher prices, consumer spending posted its biggest decline since February 2021.

FAQs

Q1. Is there any relation between tariff and inflation?
A1. Economists said the tariffs will fuel inflation.

Q2. Are Americans happy with Donald Trump's way of handling cost of living?
A2. Earlier in March, a Reuters/Ipsos survey found that just one in three Americans approve of President Donald Trump's handling of the cost of living in the U.S., a sign of unease as he enacts steep tariffs on imports that are stoking inflation worries.