Middle Class Americans No Longer Majority
The middle class in America has been shrinking for about 30 years. Now it is no longer the majority in the country. Cenk Uygur, Ana Kasparian (The Point), Wes Clark Jr., and Mark Thompson hosts of The Young Turks discuss.
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Read more here: http://finance.yahoo.com/news/middle-class-americans-no-longer-123207315.html
“Middle class Americans are now outnumbered by those above and below them and are “falling behind financially”, according to new analysis of government data by the Pew Research Center.
The beginning of 2015 saw 120.8 million adults living in middle-income homes, compared with 121.3 million Americans living in lower and upper income households, a significant shift that “could signal a tipping point.”
According to Pew’s report, the 21st century has seen “middle-income Americans” fall behind financially. The median income of middle income households fell by 4 percent between the year 2000 and 2014, while median wealth – assets minus debts – fell by 28 percent between 2001 and 2013.”
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