Middle Class Lifestyle Slipping Away
October 24, 2011
It’s always a parents dream that their children will do better in life than they did, but that dream is slipping away as more Americans struggle to maintain the middle class lifestyle they grew up with. Nearly three out of 10 Americans–28 percent– born in the middle class drop out of it as adults. That sobering statistic comes from a recent study on economic mobility from The Pew Charitable Trusts.
The study defines middle class as those families making between $32,900 and $64,000 in 2010 dollars, which ranks between the 30th and 70th percentiles of income. The study looked at what participants earned in the years before the recession started versus what their parents made at a similar age in 1979. Nearly one in five people, 19 percent, made less than their parents did at the same age in inflation-adjusted dollars.
Click here to read more about the study in the Denver Post.
Banding Together and Fighting Back!
Get your Mortgage Crisis message to your State Attorneys General Office. Read more »CWN Contact Form
Want to contact one of our columnists, or send a message to the CWN staff? Click here »Add the CWN RSS Feed to your News Reader
Recalls and Product Safety News by PCSC- Pro Armor Recalls Latches for Utility Vehicle Doors Due to Ejection and Laceration Hazards
- Shimano Recalls PRO Atherton Mountain Bike Handlebar Stems Due to Fall Hazard
- American Honda Recalls ATVs due to Crash Hazard
- Fuji Recalls Women's Cruiser Bicycles Due to Fall Hazard
- Tumblekins Toys Recalled by International Playthings Due to Choking and Laceration Hazards
- Hidden Credit & Debit Card Fees Cost Consumers Big Time
- Who’s Getting a Raise?
- The Paradox Of Savings
- The Sallie Mae Fund – Serving Charity or Promoting Business?
- Goodbye Recession – Men are Buying Underwear Again!
- Why Are Your Bank Fees Going Up?
- Bank Lobby Tries to Deep Six Consumer Protection
- AIG Denies Claims While Dishing Out Bonuses
