Since 1970 he percent of middle class has fallen, but the drop in the percent of their income is even greater. Is that cause to be concerned?

[Adaeva]

The middle class, once the economic stratum of a clear majority of American adults, has steadily contracted in the past five decades. The share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021, according to a new Pew Research Center analysis of government data.

The share of aggregate U. S. household income held by the middle class has fallen steadily since 1970. https://www.pewtrusts.org/en/trust/archive/fall-2022/how-the-american-middle-class-has-changed-in-the-past-five-decades

[WindAtMyBack]

You can easily see the reason from the graph. People have moved from middle class to upper class. That's a good thing, not a reason for concern.

Without graphs, just by looking around, I've seen the same thing over the last 40-50 years. The entire spectrum, from lowest 10% to the upper class has been moving upwards. The country is one heck of a lot richer than it was 50-60 yeas ago.

[Adaeva]

Very good. You pointed out something that I didn't notice, but it makes good sense. Thank you. That is somewhat offset because the lower income have also increased but only half as much as the increase in the upper class.

[WindAtMyBack]

The lower income looks flat, but it declined 20%.

You really need to look into how these things are defined though. Some of the definitions are misleading.

One important measure is disposable income. Once you reach that threshold, you are on your way to middle class (but not there yet). This is the reason why, worldwide, the middle class is growing so fast. A very large number of people in growing economies are reaching that threshold.

The middle already have disposable income. A small increase in total income can result in a large increase in disposable income. It's even greater at lower incomes. At the lowest threshold of reaching disposable income, a 10% increase in total income can result in a 100% increase in disposable income.

With emerging economies, large numbers of people are at that threshold where a small increase in income translates to a very large increase in disposable income.

[notwoke]

based on this chart they have moved to upper income not lower, so "GREAT PROGRESS!"

I reality the standard of living has increased greatly and folks should be thrilled but the elite benefit from keeping us fighting with each other

[exitseven]

A few have made progress but most have lost ground. Never did i think I would make as much money as i do now but between taxes and inflation I know i have lost ground over the last two years.

[notwoke]

@exitseven reading that chart, it clearly indicates that the upper income grew more than the middle shrunk and the lower also shrunk slightly. So many more people made progress vs. lost ground. Essentially the upper class grew while the lower and middle shrunk by an amount equal to the gain in the upper class

[exitseven]

What the chart fails to reflect is that due to inflation everyone has gone backwards but the lower middle class and the poor feel it the most.

[notwoke]

@exitseven in the past 2 years yes, but in the past few decades the standard of living has gone up tremendously. When I was a child poor people were skinny from not enough food, now they're fat from too much food. The average house size has nearly doubled and things like cars have gotten tremendously better on average. It used to be "normal" that people washed clothes by hand, butchered their own chickens and pigs, wore hand me down clothes, the list goes on. The standard of living is up tremendously, especially for the poor. I know this goes against the media narrative but this is absolutely true

[Adaeva]

When I look as high school class and other group photos from the 1950s, being fat was not common but it is today. That was after the great depression so they probably had plenty of food. Therefore, there must be other reasons. However, I don't know what the reasons are. Perhaps people were far more active or perhaps growth hormones fed to farm animals or genetically modified food contributes to being fat. I'm not knowledgeable enough to know if those could be reasons.

[notwoke]

I'm sure the truth is somewhere in the middle and what you state is true. Part of it is also that we have the luxury of having products and services that do everything for us now. robotic vacuums, someone changes your oil for you, you don't wash your own car, you buy your food already partially prepared, etc. Best wishes to you

[exitseven]

I vacuum the old fashioned way, change my own oil, wash my own car except in the winter and buy food uncooked.

[exitseven]

Yes. the middle class has been gutted by shipping all the good manufacturing jobs overseas. People go into home Depot and buy an electric drill made in China to save 5 bucks. That money gets shipped overseas never to be seen again. If that person bought a drill made in USA that money would provide a job for a citizen and that person can afford to have a new house built and than has to buy appliances which provides employment for other Americans. By the time that dollar circulates through the economy it is worth 5 or 6 dollars. I try to buy American made products as much as possible. Sometimes it is not which is sad. There is a container ship, as big a 3 football fields that goes back and forth from the Port of LA to China. It comes here practically awash with cheaply made Chinese goods and goes back practically empty. Only President Trump and me ever saw anything wrong with that.

[Leopard23]

120 mph in a Mercedes AMG. Wasn't mi e of course, belonged to my brother in law. I had to drive it back for him from Las Vegas

[DWornock]

The increase in the upper class is good. The problem is the too many of the super rich are acquiring their wealth by political and other foul means.

[Dargil]

A reboot is coming, when social roles and mores will be restored.