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This is hyperbole. Yes, there has been some movement low 31-34, middle 45-43, high 25-22, since 2000. But also consider that 2000 was at the height of a bubbl
by dpweb 12y ago
This is hyperbole. Yes, there has been some movement low 31-34, middle 45-43, high 25-22, since 2000. But also consider that 2000 was at the height of a bubble where people were artifically wealthy. I wouldn't call a couple of percentage points "killing the middle class".
Also, consider the labor participation rate. At a 36 year low. Less people are working. http://data.bls.gov/timeseries/LNS11300000 http://data.bls.gov/timeseries/LNS11300000
Without getting into the whole political argument about whether people should be paid by the government when they do not work, or to the extent robots or cold hearted business barons are killing jobs - or - whether these people can't work or choose not to because they can get by on govt. dole (or working friends/family) - less people working will mean less income.
The survival of middle income families is a very real concern, but I don't find the click bait headlines and exaggeration of what's happening particularly helpful. We have too many areas in American life where instead of taking a sober look at the problem, we stir people up by appealing to their base fears and create narratives to scare people.