Monday, August 24, 2009

Vanishing Middle Class?

Some politicians and pundits have been wringing their hands over a vanishing middle class. No worries. STEVE HORWITZ mines some data to suggest that those who have vanished are prospering:
"Let me repeat that: over 30% of US households in 2006 earned above $75K compared to under 20% in 1980. Over the same period, the percentage of US households earning under $35K fell from 42.8% to 36.7%. Fewer households are poor, fewer are middle class, and a hunk more are above $75K."

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