Many of those families live in places like New York or California where $112,000 is not much.
The families I know in New York City making around $2-300,000 live paycheck to paycheck in tiny, old rented apartments. Both parents work until 6-8 PM, they barely see their kids except in weekends. They spent the first decade or so after college paying off student debt and now they have five figure credit card debt. Their life is void of luxury. No cars, no fancy vacations, no real estate, no savings, no shares, often no pensions savings either. Everything is spent on kindergartens, nannies, schools, rent etc.
You may be upper middle class if your family makes $112,000 in Oklahoma. But it simply doesn't make sense to regard people in New York City or the Bay area with such salaries as upper middle class.