Tuesday, December 29, 2015

No Longer "Middle Class"

The most recent US Census Bureau data showed that median household income — what people in the exact middle of the American spectrum earn — is $53,657. Americans in the highest 5 percent of the income distribution makes $206,568 or more. More than one-fifth of households earn less than the poverty rate for a family of four: $23,850.

Americans are not legally guaranteed any pay when they take time away from work for the arrival of a new baby or to care for a sick family member. According to a 2012 survey, about a third of people who get no or partial pay when they take time off for a new child end up doing things like borrowing money, dipping into savings or putting off paying bills. Fifteen percent enroll in public benefits.

Over the last decade and a half, fewer and fewer Americans are identifying as middle class, and a growing share says it is working or 

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