Calling us all middle class solves nothing
Hmm. And the example to be used?
In Georgian times, Jane Austen’s family lived an impecunious life, on £210 a year, better off than 95% of the population but treated as “the middle ranks” – so richer than most but not as wealthy as the few.
By simple inflation that £210 is now £10,600. Which as an income for an entire family ain’t much by present standards.
By income changes that £210 is now £160,000. Still in the top 5%, yes.
But look at the difference between the two numbers there, £10k and £160k. The reason we do say that we’re all middle class now is because by any rational standard of historical experience we are all middle class. If not inordinately rich in fact.