The American middle class is still struggling

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Americans historically have thought of ourselves as a middle class nation, a nation in which the majority of people were neither poor nor rich.  That is becoming less true.

The median level of income—that is, the dividing line between the top and bottom 50 percent of income earners—has been falling for 15 years.  This is not a good thing.

At the same time the middle tier of income earners is shrinking.  The middle tier are those who earn more than two-thirds of the median income and less than double the median income.  This is not a good thing.

I think the causes of this trend are the de-industrialization of the U.S. economy, the financialization of the U.S. economy and the upward redistribution of income to a small elite of financiers and corporate executives.

LINK

The American Middle Class Hasn’t Gotten a Raise in Fifteen Years by Ben Casselman for FiveThirtyEight.

 

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