ML-Implode News - Middle Class Shrinks Further as More Fall Out Instead of Climbing Up

According to a New York Times poll in December, 60 percent of people who call themselves middle class think that if they work hard they will get rich. But the evidence suggests that goal is increasingly out of reach. When middle class people look up, they see the rich getting richer while they spin their wheels.
"The middle has basically stayed the same; it hasn't improved," said Lawrence F. Katz, an economist at Harvard University. "You've got an iPhone now and a better TV, but your median income hasn't changed. What's really changed is the penthouse has become supernice."

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Middle Class Shrinks Further as More Fall Out Instead of Climbing Up