alephnerd1d ago

More Americans Are Breaking into the Upper Middle Class

https://www.wsj.com/economy/more-americans-are-breaking-into-the-upper-middle-class-bf8b7cb2

Show threadtdb78931d ago
The headline is a remarkably rosy spin on it when the subheading is "Research shows that ranks of higher earners have grown markedly over last 50 years, while lower rungs of middle class have shrunk". The article is behind a paywall but it makes it sound like inequality is increasing.
Show threadshipman05

That's the whole point. When people hear "the middle class is shrinking" they intuitively believe people are slipping down a rung and joining the ranks of the working poor. The data doesn't back that up. The middle class is shrinking, but more people are moving up a rung than falling down one.

Which isn't to say that you're wrong about wealth inequality increasing. The share of wealth controlled by the ultra wealthy IS increasing, but the specifics of how that is playing out are nuanced and, at times, counter-intuitive.

Apr 6 at 4:20pmWeb
Show threadnyeah1d ago
But, Doctor, the data does back that up. The US middle class is shrinking, and most of the shrinkage is on the low end. There's no mystery about this, only potential for distractions.
Show threadsaulpw1d ago

> more people are moving up a rung than falling down one.

How do you figure that? Do we have any data that backs that up?