American upper class

The American upper class is a social group consisting of the people who have the highest social rank and who are usually rich. People of this social class are socioeconomically distinguishable from other classes by its greater influence, power, and wealth. The American upper class is composed of members born into this class, called members of Old money; as well as those who have acquired their wealth and influence within their own generation, called the Nouveau riche. In a CNBC Millionaire Survey it can be observed that a majority of millionaires polled, representing the wealthiest 10 percent of Americans, described themselves as middle class (44%) or upper middle class (40%).

"The study of attitudes is reasonably easy [...] it's concluded that for roughly 70% of the population – the lower 70% on the wealth/income scale – they have no influence on policy whatsoever. They're effectively disenfranchised. As you move up the wealth/income ladder, you get a little bit more influence on policy. When you get to the top, which is maybe a tenth of one percent, people essentially get what they want, i.e. they determine the policy. So the proper term for that is not democracy; it's ." – Noam Chomsky.

Many Politicians, heirs to fortunes, top business executives, CEOs, successful venture capitalists, those born into high society, and some celebrities may be considered members of this class. Some prominent and high-rung professionals may also be included if they attain great influence and wealth. The main distinguishing feature of this class, which is estimated to constitute roughly 1% of the population, is the source of income. While the vast majority of people and households derive their income from wages or salaries, those in the upper class derive their income from investments and capital gains. Estimates for the size of this group commonly vary from 1% to 2%, while some surveys have indicated that as many as 6% of Americans identify as "upper class." Sociologist Leonard Beeghley sees wealth as the only significant distinguishing feature of this class and, therefore, refers to this group simply as "the rich."

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