Monday, March 10, 2008

Stagnant Middle Class Income Myth


Bottom Line: As the graph above shows, the average household size has declined by 21% from 1967 to 2006, while real, median household income increased by 31% over the same period. Result? A significantly, much, much higher standard of living for the average household member, i.e. the typical member of the middle class!

Isn't it time that we bury many of the myths forever about the "middle-class squeeze," "the war on the middle class," "the American middle class is fighting for its life," "Two Amercias," etc.