"Between 1979 and 2014 ... there were sizable declines in each of the lower three groups, with the poor and near-poor falling from 24.3 to 19.8 percent, the lower middle class from 23.9 to 17.1 percent, and the middle class from 38.8 to 32.0 percent."
My read of that is that since 1979, there has been a shift up for all income groups. There are fewer poor and near-poor, fewer middle class, and substantially more in the upper middle class.
Isn't this good news? Doesn't it fly in the face of the 'growing income divide'?
"Between 1979 and 2014 ... there were sizable declines in each of the lower three groups, with the poor and near-poor falling from 24.3 to 19.8 percent, the lower middle class from 23.9 to 17.1 percent, and the middle class from 38.8 to 32.0 percent."
My read of that is that since 1979, there has been a shift up for all income groups. There are fewer poor and near-poor, fewer middle class, and substantially more in the upper middle class.
Isn't this good news? Doesn't it fly in the face of the 'growing income divide'?
Something is not adding up...