Posted by: coastcontact | January 8, 2016

Goodbye to America’s Middle Class

Forget about the poor and the rich for just a few minutes. Think about the middle class. The range of the middle class varies by state. According to Pew Research Center in the middle class shrunk in every state between 2000 and 2013. The highest median income for that group was $72,483 in Maryland and at the low end in Mississippi it was $37,963.

Here is the real shocker. Household median income reached $48,474 in 2012 but in adjusted for inflation dollars Americans reached an income of $48,655 in 1978. The median income in 1978 was $13,234.

Pew Research writes: “The hollowing of the American middle class has proceeded steadily for more than four decades. Since 1971, each decade has ended with a smaller share of adults living in middle-income households than at the beginning of the decade, and no single decade stands out as having triggered or hastened the decline in the middle.

Based on the definition used in their report, the share of American adults living in middle-income households has fallen from 61% in 1971 to 50% in 2015.”

Which presidential candidate is likely to change this situation? The answer is no one. While Bernie Sanders rails against big business he has not offered any solutions.

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Responses

  1. Thank you. Very informative

    Sent from my iPad

    >


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