No matter what the Left says, quintiles don’t actually shrink, and neither does the middle class. The middle class is constituted by all those with annual income in the 2nd, 3rd, and 4th quintiles. That means household income between $19,000 and $91,000. Three-fifths of the population, right there.
Over the years, even controlling for inflation, those income levels keep marching upward. The middle class keeps rising upward. In fact, the American middle class is moving up faster and further than that of any other developed nation. For the definitive international comparison, link here.
By the way, the top 5% of income earners begin at $166,000 per household. The top one percent begins at $333,000. Strange thing, nearly everyone below the top one percent (and even many inside the top one percent) do not think of themselves as “rich.”
The Clintons, on the other hand, disclosed that their wealth was between $10 and $50 million.
Edwards wealth was reported at $29.5 million, gotten from suing doctors as a trial lawyer.
Don't get me wrong, I'm not against wealth. I have often stated that I would like to pay $1 million in taxes one year. But all these stupid stories about the inequality of wealth in this country are bogus; political editorial running as "news" in an effort to further the re-distributist agenda of the leftists that write for the MSM.
A reader compares the things his parents had with what he has. Think about how the "middle class" lives in the US. think about what the MSM is editorializing about.