Posts Tagged ‘Middle Class’
Shrinking Middle
Middle class is defined as adults with household incomes between two-thirds and twice the national median, or between $40,000 and $120,000 today. In 1971, 61% of adults were middle class, 14% were upper class and 25% were lower class. Today, just 51% are middle class, 20% are now upper class, and 29% lower class. Even…
Read MoreThe Game of Life
If you follow these rules: complete a high school degree, work full time, and wait until 21 to get married and have a baby, then you have only a 2% chance of being in poverty and a 72% chance of joining the middle class (earning $55,000+). However, if you violate all three rules, you have…
Read MoreShop or Drop?
Consumers are spending but for how much longer? Over the past year disposable income is down, savings has fallen from 5.3% to 3.5%, household net worth has fallen by $2.4 trillion as house prices keep falling and credit card debt is up. Luxury spending is strong but chain-store sales were down in Oct and Nov…
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