April 10, 2008

Upper-Class Income is UP 123%

That's right. The avg income of the wealthiest American's rose by a mind-numbing 123% in the past 21 years according recent survey says CBS News.

Middle-class prosperity overall also lagged compared with richer Americans. From 1983 to 2004, the median net worth of upper-income families - defined as households with annual incomes above 150 percent of the median - grew by 123 percent, while the median net worth of middle-income families rose by just 29 percent.

At the same time, most middle-class people remained upbeat when asked to measure their progress over a longer timeframe, although their level of optimism lagged behind their richer counterparts. Two-thirds, or 67 percent, of middle-class Americans say their standard of living is better than the one their parents enjoyed at the age they are now.

In contrast, 80 percent of richer people said they exceeded their parents' standard of living. Among the lower class, only 49 percent reported better conditions.


No comments:

Post a Comment