The American middle class used to signify economic security. That’s now quickly becoming a luxury only the wealthiest can afford.

Paul Constant 

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A majority of Americans believe their children and grandchildren will be worse off financially than they are now. 
  • Paul Constant is a writer at Civic Ventures and the cohost of the “Pitchfork Economics” podcast.
  • While a majority of Americans consider themselves middle class, he says far fewer actually are.
  • The wealthiest 10% are working to ensure their stability at the expense of everyone else, he argues.

Last year, the RAND corporation, a nonpartisan think tank, released an eye-popping study that found that the wealthiest Americans have taken some $50 trillion from the paychecks of the bottom 90% of American workers over the past four decades.

This was a figure that put the last half-century’s growing inequality in stark relief. If you’re a median American wage-earner, you would have brought home more than $1,000 more every month had inequality simply stayed consistent from the 1970s through today.

Those numbers are disastrous for the American middle class.

When most non-economists talk about the middle class, we don’t mean the strict middle third of American household wealth……More Here

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