What it takes to be middle class in America
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- Опубликовано: 20 май 2024
- As the 2024 election nears, more politicians will increasingly mention the middle class in their economic policy plans. But who actually makes up America's middle class? Yahoo Finance's Rachelle Akuffo joins Wealth! to discuss this question and how the middle class is being affected by inflation.
Akuffo notes that despite overall GDP and inflation data, three things impact how the middle class is being affected by high rates: location, household income, and previous generations.
According to the latest Census data, the median household income was $74,580, which could feel different depending on location. The states with the highest middle class household incomes are New Jersey, Maryland, and New Hampshire. Meanwhile, the South remains the region with the lowest median household income for the middle class.
Pew Research data highlights that the middle class has been shrinking since the 1970s and at a faster rate than the growth of the upper-income class. According to the OECD, each new generation in the US has been even less likely to join the middle class than in other OECD member countries.
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What middle class. Its just the rich and the poor in the US. Both parties are to blame.
Trumpflation
It's definitely Biden Inflation.
I know plenty of middle class people. All snobs and can care less about the poor. They often like to say they are poor. Because they like to play victims to a government they help put in place.
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I make 83K by myself where the combine medium household here is only 61K. And yet still cannot afford a home.
Been tracking Revux's development. Impressed with the progress!
America middle classes are gone with the American dream 😢
Sad but true. A college graduate would have to pay a large student loan debt and save for many years to afford a home.
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Clearing out all my Alts going into BTC and Revux only, maybe a little BNB and SOL
must make 150k or more to be middle class in most parts. CA more like 250k
Yeah, yet another reminder that I'm poor.
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Can't complain about these interest rates. Aside from the fact they need to be higher.
Dems:👍
Repubs:👎
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