Wednesday, December 16, 2015

Losing class

A recent publication of the Pew Research Center, “The American Middle Class Is Losing Ground” (December 9), might give us pause. Excerpt:
After more than four decades of serving as the nation’s economic majority, the American middle class is now matched in number by those in the economic tiers above and below it....
    ...the nation’s aggregate household income has substantially shifted from middle-income to upper-income households, driven by the growing size of the upper-income tier and more rapid gains in income at the top. Fully 49% of U.S. aggregate income went to upper-income households in 2014, up from 29% in 1970. The share accruing to middle-income households was 43% in 2014, down substantially from 62% in 1970.... [read more]...
Bonus: In a section titled “Are you in the American middle class?” the article provides a calculator to help you find out whether you are in the middle class or not.

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