Middle-Class “Decline” Caused By Upward Mobility
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Submitted by CARPE DIEM
Growing income inequality has had little traction thus far as a political issue. Why is this?
Partly because some have moved up, as economist Stephen Rose points out. There are 12% more households earning in excess of $100,000 than 20 or so years ago. And those making less than $30,000 have not increased. So virtually the entire “decline” of the middle-class group has come from people moving up the income ladder, not down.
From “The American Dream Goes On,” by Mortimer Zuckerman
