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What you describe above would imply that everyone is falling out of the middle class rather than climbing up out of it - the data doesn't back that up though. F
by djrogers 10y ago
What you describe above would imply that everyone is falling out of the middle class rather than climbing up out of it - the data doesn't back that up though. FTA:
"In inflation-adjusted dollars, the share of U.S. households making $100,000 or more has more than tripled between 1967 and 2017, from 8% to 26%, according to U.S. Census data, while the percentage of middle income ($35,000 to $100,000 a year) has fallen. However, lower income U.S. households ($35,000 or less per year) have only slightly fallen over the last four decades."
- PhantomGremlin 10y agoI checked a little further. Your point is valid, but the data you quote from the article isn't granular enough to demonstrate it very clearly. I found a chart on the interwebs that illustrates the point a little better. Check out the 2nd chart on this page, the chart titled "Real (Inflation adjusted) Average Household Income": https://www.advisorperspectives.com/dshort/updates/2016/09/15/u-s-household-incomes-a-49-year-perspective https://www.advisorperspectives.com/dshort/updates/2016/09/1... What is shows is the bottom three quintiles have been stagnant in terms of income. Most of the growth has occurred in the top quintile and especially in the top 5%.