Saturday, December 12, 2015

Wave goodbye to the “middle class”

“Middle class” means a lot of things in America, in social, economic and political terms.

A strange thing is that lots of people think of themselves as “middle class” even though their financial circumstances place them outside that politically-charged category.

It’s not so strange to take note of this new report from the Pew Research Center that says, simply, the “middle class” no longer includes a majority of Americans.

About 45 years ago the “middle class” constituted 61% of adults, and now their share is a bit less than 50%.
Middle class house, 45 years ago
The “upper class” has become a lot richer in that time, and trickle-down poverty has put a lot more folks in the “lower class” group.

The “uppers” are 21% of the adult population and they collect almost 50% of all household income. The ‘middles” are 49.9% of the population, with about 43% of income, and the “lowers” are 29% of adults with only 7% of all income.

You think you’re “middle class”?

If you live in a three-person household and your family income is at least $41,900, you’re in. If your family income is at least $125,600, you can claim “upper class” status.

If you live alone, the numbers are $24,200 and $72,500. For two people, $34,200 and $102,600.

Umm, that’s before taxes.

Copyright © Richard Carl Subber 2015 All rights reserved.

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