Dragon
Senior Member
- Sep 16, 2011
- 5,481
- 588
- 48
1. The statistical illusion known as ‘the vanishing middle class’ is produced by defining the middle class by some fixed interval of income.- say, between $35k and $50k- and then by counting the number of individuals are in that interval over the years.
Actually, I've never seen anyone do it that way. A middle class income is one that permits a middle-class lifestyle, which includes home ownership, a new car ever five years or so, the ability to raise a family and send the kids to college, and the ability to do a modest amount of traveling for pleasure while saving something for retirement. The opportunity to achieve a lifestyle like this has declined;'the opportunity to do it on a single income has almost disappeared, except in the ranks of the professional "upper" middle class.