I’ve been on Yahoo Tech Ticker and Fox Business Network to discuss one of the greatest travesties in the US: the middle class’s disappearing act. The Census Bureau now as more data showing this unwanted magic trick continues in full force. Here’s your Cheat Sheet:
Widest Ever = The gap between the rich and poor in the US.
49.4% of Total Household Income = Earned by the top 20% of households (earning > $100,000).
3.4% of Total Household Income = Earned by the bottom 20% of households (earning < $20,000).
Twice as Much = The ratio of earnings between the top and bottom since 1967.
~$22,000 = Poverty line for household of four.
8.3% = The percent of additional people who slipped below the poverty line since last year.
14.3% = The percent of people below the poverty line.
43.6 million = The number of people living below the poverty line (most on record).
2.9% = The amount Median Household Income dropped since last year.
$50,221 = Median Household Income.