Who are the Middle Class?

Who are the Middle Class?

Many economists define the middle class as those adults whose annual household income is between two-thirds and twice the national median – today, that means roughly $40,000 to $120,000.   .  By this standard, according to the Pew Research center, the middle class is significantly smaller  than it was.   In 1971, America had the following make-up:

·         14% - Upper Class

·         61% - Middle Class

·         25% - Lower Class

Four decades later in 2011, the middle class share has declined, with the following results:

·         20% - Upper Class

·         51% - Middle Class

·         29% - Lower Class

-          Wall Street News, August 7, 2013