As Income Inequality Rises, America's Middle Class Shrinks | Center for American Progress - 7 views
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hcps-fodorah on 02 Feb 15"America's middle class is struggling. As recent economic data show, middle-class household incomes remain stagnant at a near-25-year low, and the share of the nation's economic gains going to the middle class has fallen to near-record lows. Meanwhile, the costs of middle-class essentials-such as child care, higher education, health care, and housing-have rapidly increased. Beyond these well-documented facts, however, another long-term trend affecting the middle class has received somewhat less attention: As income inequality has steadily grown in the United States, the actual size of America's middle class has shrunk." This article explains various effects of income inequality on middle class citizens. It discusses the decrease in middle class households over time. Due to income inequality, less than 50% of American households can actually be considered "middle class".