A very brief history of the post-1980 economy: - The pay of the top 1% of earners has risen much faster than economic growth. - The pay of the next 9% has risen with economic growth. - The pay of the bottom 90% has trailed economic growth.
The huge inequality between the 1 percent and the 0.01 percent (the 1% of the 1%) seems like a fringe story. But I think it's a huge story. It's how the 1 percent can conceive of itself as an anxious middle class.
In the 1980s, the United States launched a great social experiment. We now know its result.
Inequality is growing so furiously that if you’re at the bottom of the richest 1 percent, you may feel middle class relative to the huge accumulations at the top of the richest 1 percent. See:
For 9 out of 10 Americans, their share of the economic pie has shrunk since 1980
No. No. No. The top 10% is not “middle class” in any meaningful sense of the word.
What do white collar voters want? “They want a pluralistic US that is engaged w/the world & embraces technology & future industries. What they don’t want is a backlash to diversity, a backlash to globalization, a backlash to technology.” ⁦
Most physicians will find themselves on the red line, the 9% of the population which experiences life as basically fair. It's not. How the Upper Middle Class Is Really Doing
RT : the post-1980 economy: - The pay of the top 1% of earners has risen much faster than economic growth. - The pay of the next 9% has risen with economic growth. - The pay of the bottom 90% has trailed economic growth.
...Much better than most working Americans #TaxTheRich
. says, "Politicians should recognize that there are three broad income groups, ... The bottom 90 percent of Americans does deserve a tax cut, ... The top 1 percent deserves a substantial tax increase. The upper middle class deserves neither."
How the Upper Middle Class Is Really Doing
A useful analysis but part of the trouble, as pointed out by and others, is not just how the upper middle class is doing, but what they are doing and what policies they support (generally things quite bad for economic mobility)
How The Upper Middle Class Is Really Doing
A point so obvious I am embarrassed to make it, but is sometimes overlooked. Only 0.01% of people are in the top 0.01%. So for every one of them there are 999 in the rest of the top decile, impacting housing markets, education markets etc.
Good news: The 2020 Democratic candidates aren’t pandering to high earners as much as the party traditionally has.
How the Upper Middle Class Is Really Doing. Nice overview of recent data by
How the Upper Middle Class Is Really Doing
How the Upper Middle Class [middle class and working class] Is Really Doing
"For too long, the country’s economic policy, even under Democrats, has blurred the distinction between the upper middle class and the actual middle class." Amen,
MOST IMPORTANT CHART - EVERYONE WILL UNDERSTAND THE IMPLICATIONS OF THIS!! How the Upper Middle Class Is Really Doing
Agree with much of piece . But a narrow focus on income understates power of the UMC. From Dream Hoarders:
As a self-confessed member of the upper-middle, I endorse this view: How the Upper Middle Class Is Really Doing via
A brief history of the post-1980 economy: - The pay of the top 1% of earners has risen much, much faster than the overall growth of the economy has. - The pay of the next 9% has risen on pace...
“Since 1980, the incomes of the very rich have grown faster than the economy. The upper middle class has kept pace with the economy, while the middle class and poor have fallen behind”. 👉🏼 How the Upper Middle Class Is Really Doing
My take on the Piketty, Saez, and Zucman data. What looks different about recent times is not the top 10% trend but the stagnation of the bottom 90%. Politically, I also suspect that going after the wealthy is less useful than helping the working class.
How the Upper Middle Class Is Really Doing #sociology
In terms of income and wealth, the United States can be divided into three classes: the upper 1%, the lower 90%, and the “middle class” (90-99%).
Leonhardt: "The upper middle class doesn’t deserve the blame for our economic problems. But it doesn’t deserve much government help, either." Economically correct, politically a mistake. Working-class & poor benefit most when middle class benefits too.