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All together, these generally middle-class professions — which pay from $40,000 on the low end to more than $100,000 a year — are forecast to shed more than 600,000 jobs by 2033, figures from ...
The middle class has been steadily shrinking. While middle-income earners comprised 61% of the American population in 1971, by 2021, that percentage had shrunk to 50%, according to a Pew Research...
2022 middle-class income range: $47,815 to $143,444. 2012 middle-class income range: $34,254 to $102,762. 10-year change in middle-class income: 39.6%.
In 1980 the middle class earned 17% of total income in the United States. [291] [292] [293] However, by 2019 its share decreased to 14%, a drop of 3%. Another way to see this is that in 1980 the share of the middle class was the same as that of the top 5% but by 2019 the top 5% was 9 percentage points ahead of the middle class. [294] [295]
The Inflation Reduction Act of 2022 (IRA) is a United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.
The middle class refers to a class of people in the middle of a social hierarchy, often defined by occupation, income, education, or social status. The term has historically been associated with modernity, [1] capitalism and political debate. [2] Common definitions for the middle class range from the middle fifth of individuals on a nation's ...
Decade by decade, America's middle class has been shrinking over the past 50 years as rising inequality pushes more Americans out of the middle and into the upper and lower income brackets.
Though the American middle class does not have a definitive definition, [ 1 ] contemporary social scientists have put forward several ostensibly congruent theories on it. Depending on the class model used, the middle class constitutes anywhere from 25% to 75% of households. One of the first major studies of the middle class in America was White ...