Tags: Hillary Clinton | Scott Walker | millionaires | middle class | Americans | Carly Fiorina | Hillary Clinton

Survey: Most Millionaires Define Themselves as Middle Class

By    |   Wednesday, 06 May 2015 04:51 PM

Most millionaires think they belong in the middle class, according to the results of a new survey.

The CNBC poll found that millionaires, who make up the wealthiest 10 percent of Americans, identify themselves as part of the middle class by an overwhelming rate. Forty-four percent think they are middle class, while 40 percent said they belong in the upper middle class.

Four percent of those surveyed said they are either wealthy or rich, while 5 percent described themselves as upper class.

The trend did not stop in the top 5 percent of America's wealthiest citizens, who are worth $5 million or more. Forty-nine percent of those folks identified themselves as upper middle class, and 23 percent said they are middle class.

Just 11 percent of Americans worth at least $5 million called themselves rich or wealthy, according to the survey results.

The Spectrem Group conducted the survey for CNBC in March. Its president, George Walper, said wealthy Americans could be afraid to be labeled wealthy for cultural reasons.

"The majority of wealthy Americans are those that really don't want you to know how wealthy they are," Walper said. "It's a very small percentage of people who want to be out front in the media. Most of them say, 'I'm just a Main Street American.'"

A Pew Research Center survey earlier this year, meanwhile, found that 54 percent of wealthy Americans think the poor have it easy in America thanks to government benefits available to them.

Republican nominees for president are stressing the "common man" mentality ahead of next year's election — especially as they face Democrat Hillary Clinton, whose speaking fee is in the six figures and who has not driven a car in decades.

A recent Boston Globe report broke down the net worth of confirmed and expected candidates for president. The most recent data from Clinton was from 2013 and it said she is worth $15.3 million.

Republican Carly Fiorina is the wealthiest on the list, at $70.7 million (2009 data). The Globe claimed 10 Republicans are worth between $443,500 and $3.8 million.

Wisconsin Gov. Scott Walker, a Republican who is expected to join the presidential race, is $72,500 in the red thanks to loan and credit card debt, according to the Globe.

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Most millionaires think they belong in the middle class, according to the results of a new survey.
millionaires, middle class, Americans, Carly Fiorina, Hillary Clinton
Wednesday, 06 May 2015 04:51 PM
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