US Upper Class Increases

The US upper class was 11% in 1971, and jumped to 19% by 2023. Mostly that is from a shrinking middle class falling to 51% from 61% in the same time. Lower income population rose a bit from 27% to 31%. Another way to look at this is that the economic divide in the US is growing. The good news is that more people are wealthy, but that there are fewer people in the middle. The US population is bifurcating. The report dies deep, but the concept of a vital and vibrant middle class is fading. The rising tide is not lifting all boats. Lower and middle incomes have risen 55% and 60%, respectively. Upper incomes have risen much more, 78%. Less of the nation’s money is going to those who need it most. In 1970, 62% of household income went to the middle class with 29% going to those with much higher incomes. Those trends crossed circa 2009 such that the upper income households now receive 48% of all incomes and the middle class receives 43%. Lower income has always earned less and even that small 1% has shrunk to 8%. The US becomes less united.