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Pew: US Middle Class Is Losing Ground

Friday, December 11, 2015 18:20
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By Hunter Wallace

The Pew Research Center has a massive new study out which shows the US middle class is losing ground:

“After more than four decades of serving as the nation’s economic majority, the American middle class is now matched in number by those in the economic tiers above and below it. In early 2015, 120.8 million adults were in middle-income households, compared with 121.3 million in lower- and upper-income households combined, a demographic shift that could signal a tipping point, according to a new Pew Research Center analysis of government data …

Fully 49% of U.S. aggregate income went to upper-income households in 2014, up from 29% in 1970. The share accruing to middle-income households was 43% in 2014, down substantially from 62% in 1970.

And middle-income Americans have fallen further behind financially in the new century. In 2014, the median income of these households was 4% less than in 2000. Moreover, because of the housing market crisis and the Great Recession of 2007-09, their median wealth (assets minus debts) fell by 28% from 2001 to 2013.”

Note: This blog entry will be updated after I finish reading the study. In light of my recent research, I have a lot to say on this subject.



Source: http://www.occidentaldissent.com/2015/12/11/pew-us-middle-class-is-losing-ground/
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