More than 60 percent of Americans in the middle class said they are “struggling financially” and do not expect things to turn around for the rest of their lives, according to a poll released Tuesda…
For decades, ‘middle class’ was defined as one income that could pay for a family of four. Up until the Nixon inflation of the 1970s anyone with a halfway decent job was ‘middle class.’ Back then $1 million was a giant fortune
Then Reagan came in with his tax cuts for the rich. By 1992, middle class was defined as two incomes and $1 million was what a rich guy paid for a party.
Think of it this way.
For decades, ‘middle class’ was defined as one income that could pay for a family of four. Up until the Nixon inflation of the 1970s anyone with a halfway decent job was ‘middle class.’ Back then $1 million was a giant fortune
Then Reagan came in with his tax cuts for the rich. By 1992, middle class was defined as two incomes and $1 million was what a rich guy paid for a party.