The Shrinking Middle Class – Is a GOOD Thing!

From Mark Perry:

incomeshares-1

It’s a point I’ve been making for many years now on CD (see my most recent post here): the middle class in the US is disappearing but it’s largely because America’s middle-income households have been moving up into higher-income categories. The chart above shows that the share of US household earnings $100,000 or more (adjusted for inflation) has more than tripled over the last half century, from only 8.1% in 1967 to nearly 25% in 2014. Those findings have been confirmed by new research just released by Stephen Rose at The Urban Institute titled “The Growing Size and Incomes of the Upper Middle Class.” You’ll find the whole study here, and related articles by the WSJ here, Alex Tabarrok here, David Harsanyi here, and Jim Pethokoukis here.

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