Here is More Proof the Middle Class is Disappearing

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.

(Source: US Census Bureau, Bloomberg)