As recently as 1971, the US middle class was a majority of the population: 61%. It now just hit 50% and falling. At the same time, middle incomes haven’t kept up with upper incomes, and the total percentage of wages has decreased as well. Some are fortunate enough to have risen into the upper class, but many are falling into lower class as opportunities for advancement have decreased and barriers have arisen. Upper income in 1970 took 29% of the wages, but in 2014 takes 49% of the wages. The greater disparity has more to do with the top of the upper income, rather than those who’ve just crossed that threshold. The bifurcation of the American population continues.
(Click on the chart for the link.)
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