A middle-class American family made less last year than in 1989, according to a new Census Bureau report released on Tuesday. Meanwhile, Forbes magazine this week reported that the 400 wealthiest Americans doubled what they were worth a decade ago and “finally gained back all that they lost” in the 2008 economic collapse.
The Census Bureau also reported that:
- The typical middle class family has seen its income go down by more than $5,000 since 1999 after adjusting for inflation.
- Average male workers made $283 less last year than they did 44 years ago.
- Average female workers earned $1,775 less last year than they did in 2007.
- A record breaking 46.5 million Americans lived in poverty last year.