Home › Forums › Financial Markets/Economics › US Middle Class Decline – Charts
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June 15, 2007 at 1:49 PM #9313June 15, 2007 at 3:27 PM #59680AnonymousGuest
SDT, you have to understand that folks/families move into and out of the top 1-5% in the charts that you cite.
This an oldie but goodie:
http://www.dallasfed.org/fed/annual/1999p/ar95.pdfLook at Exhibit 7 on page 14.
— In nine years, 86% of folks moved up and out from the bottom 0-20% of income.
— In nine years, 60% of folks moved up and out from the bottom 21-40% of income.
— In nine years, 47% of folks moved up and out from the middle 41-60% of income.And, fat cats fall: in nine years, 53% of the top 1% moved down in income.
There’s an old saying, “From shirtsleeves to shirtsleeves in three generations,” meaning that riches come and go.
America is the land of opportunity. You can move up.
June 15, 2007 at 3:27 PM #59711AnonymousGuestSDT, you have to understand that folks/families move into and out of the top 1-5% in the charts that you cite.
This an oldie but goodie:
http://www.dallasfed.org/fed/annual/1999p/ar95.pdfLook at Exhibit 7 on page 14.
— In nine years, 86% of folks moved up and out from the bottom 0-20% of income.
— In nine years, 60% of folks moved up and out from the bottom 21-40% of income.
— In nine years, 47% of folks moved up and out from the middle 41-60% of income.And, fat cats fall: in nine years, 53% of the top 1% moved down in income.
There’s an old saying, “From shirtsleeves to shirtsleeves in three generations,” meaning that riches come and go.
America is the land of opportunity. You can move up.
June 15, 2007 at 5:10 PM #59700luchabeeParticipantIsn’t this self-evident with millions and millions of illegal aliens now in the country?
June 15, 2007 at 5:10 PM #59732luchabeeParticipantIsn’t this self-evident with millions and millions of illegal aliens now in the country?
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