WDTV – We often hear about the top one percent, but what if that number is actually bigger? New research says the number of upper middle class households in our country has more than doubled in the past few decades. Read/Watch
Some local experts 5 News talked to say the trend holds true for our state, but is a little different because we have a small population and our state doesn’t have much money. But in terms of evening things out, they do have some suggestions.
The study says from 1979 to 2014, the size of the upper middle class grew from nearly 13 percent to almost 30 percent. It defines the upper middle class as a household income between $100,000 and $350,000 for three people. The senior policy analyst at the Center for Budget and Policy says in the 1970’s the trend began and when the economy started to go upward it was actually only a certain socioeconomic group on for the ride.
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