The Slow Decline of the Middle Class Explained in One Easy Graphic
For years, economists, analysts, politicians and pundits have bemoaned the steady decline of the middle class, and it isn't hard to find evidence to justify their concern: Over the last 10 years, median middle class household income has dropped by almost $3,500, or about 6 percent. Meanwhile, the poverty rate has risen steadily, as has income inequality. As for education, the classic method for maintaining -- or rising to -- a middle class lifestyle, college tuitions have gone up by a third.
Total Bankruptcy, a network of bankruptcy attorneys, has created an infographic that outlines the narrowing middle class pie -- and the growing share of national wealth that has found its way into the hands of the richest 20 percent of Americans. Take a peek:
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Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.
