12-11-2015, 12:17 AM
12-10-2015
Here's How Much the U.S. Middle Class Has Changed in 45 Years
They're now outnumbered by the richest and poorest
In the age of rising income inequality, the task of preserving America’s middle class has been taken on by politicians across the ideological spectrum. A new report from Pew Research Center shows just how much the economic fortunes of this group have changed since the 1970s.
Pew defines a middle-class household as one having income that is two-thirds to double that of the overall median household income. A family of three, for instance, would need to have a minimum income of $41,869 to qualify as middle-income.
They're no longer the majority
Being a member of the middle-class has long been treated as an American badge of honor. However middle-income households have lost their majority status in the U.S, with the size of their counterparts on opposite ends of the income spectrum overtaking them in number.
The middle class holds 43 percent of U.S. aggregate income, the smallest share in Pew’s data back to 1970.
Almost half of aggregate earnings in the U.S. is now commanded by the wealthiest families, who are "are on the verge of holding more in total income than all other households combined
Here's How Much the U.S. Middle Class Has Changed in 45 Years
They're now outnumbered by the richest and poorest
In the age of rising income inequality, the task of preserving America’s middle class has been taken on by politicians across the ideological spectrum. A new report from Pew Research Center shows just how much the economic fortunes of this group have changed since the 1970s.
Pew defines a middle-class household as one having income that is two-thirds to double that of the overall median household income. A family of three, for instance, would need to have a minimum income of $41,869 to qualify as middle-income.
They're no longer the majority
Being a member of the middle-class has long been treated as an American badge of honor. However middle-income households have lost their majority status in the U.S, with the size of their counterparts on opposite ends of the income spectrum overtaking them in number.
The middle class holds 43 percent of U.S. aggregate income, the smallest share in Pew’s data back to 1970.
Almost half of aggregate earnings in the U.S. is now commanded by the wealthiest families, who are "are on the verge of holding more in total income than all other households combined