Also how does that number look generationally
Yes, though by some measures, a lot of those people are being squeezed *up* rather than down, e.g. this RAND study which finds that while the middle class shrunk by 2.7%, most of those folks (1.9%) moved up, not down:https://www.rand.org/blog/2021/05/most-americans-consider-themselves-middle-class-but.html …
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I almost did a spit take at the name of that website and have to quick google that XD. But I think the important take away is that the people who rose out were boomers reaching high positions, while the people falling out are often young. 1/eh?
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Yeah, I am properly concerned about generational wealth aggregation and the growing political and economic power of the gerontocracy. But I feel like that is a different problem from what most people are talking about.
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