Poor and Middle Class Income Falling under the Middle Class President

[AuH20]

But this can't be possible!!! He just told me the opposite the other day!! BTW Wouldn't you love to see the day when a debate moderator actually had the gall to ask of these idiots why savings interest rates below 2% is a good thing for the poor and middle class???

http://news.investors.com/100212-627...l-sharply.aspx

[Zippyjuan]

Is that "real" incomes (after adjusting for inflation) or before (nominal)?

As a percent of national income, the Middle Class has been earning less for over 40 years.

The inequality index (Gini Index) at the link has been growing since the late 1960's actually- not just under Obama. http://en.wikipedia.org/wiki/Gini_coefficient


http://www.cnn.com/2012/09/04/opinio...ass/index.html

In its recent report, "The Lost Decade of the Middle Class," the Pew Research Center found that in 1971, 62% of the country's income was earned by the middle class, which at that time represented 61% of the population.

In 1991, the middle class took in 54% of the income and represented 56% of the country.

In 2011, the middle class represented 51% of the population, but its earning was down to 45%.

None of this would be a problem if the percentage of Americans who became rich was in line with the amount of money the rich were taking in. Unfortunately, that is not the case. In 1971, the rich represented 14% of the country and took in 29% of the income. In 2011, the rich represented 20% of the country but took in a whopping 46% of the money.