Tuesday, September 05, 2006

The middle class is disappearing...

And becoming the upper class. So says Stephen Rose at the American Prospect:
It's true that the middle class is shrinking -- but that's because more families are better off. The share of prime-age adults in households with real incomes above $100,000 rose by 13.1 percentage points from 1979 to 2004. The share of households making less than $75,000 dropped by 14 percent.
Thanks to Mark Thoma for the pointer.