Opinion: November 1, 2022. The Middle Class is Shrinking in the United States

[marcusantoniu26]

What is the middle class? As a concept, a middle class person can have some income to invest, save, and only use some debt to sustain its living standard. A poor person relies on debt, and has little capacity to save or invest.

According to this survey, the middle class has reduced from 1971 to 2021 from 61% to 50% of the population.

The lack of a healthy economic growth and the rise in government debt seems to be the main causes for this trend.

For further information, read this article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.

Comments

[imacryptogeek]

Sad thing that the middle are getting squeezed with rising inflation daily.

[secondmedicalop]

It would be interesting to see the specific definition of middle class for this particular reference.

[ikservices]

The decline is kind of slow, 11% in 50 years. Hopefully the trend can be reversed