My wife and I combined make well above the limit for 1%-er range, yet we both feel middle class, although upper middle class is probably more accurate.

We both work extremely hard, from 9-10 hrs a day in the office and 2-3 hrs at night, most nights. We barely have time to see the kids during the week, and the weekends are filled assuaging our guilt by spending it with them, unless we have to work.

We have a modest house in the SF Bay Area, with an unmodest mortgage, and a savings that is miniscule compared to our costs and isn't growing. I have my Honda Accord that I paid off years ago, and my wife leases a Lexus SUV. We are the prototypical house-poor Bay Area family, and if one of us loses our job, we're pretty fucked. Neither of us has any sort of insurance besides whatever is provided by our companies.

The two "luxuries" we have are a weekly house cleaner, and a top notch babysitter once a week, which is why I think upper middle class is apt.

We don't feel "upper class", and we definitely don't feel rich. We know rich people, though, with live-in nannies, rented out Gary Dankos for special events, got box suites at the Super Bowl, etc.