Widespread Misinformation Follows Household Median Income Report

Release of the U.S. Census Bureau's annual report on median income received widespread press coverage since its September 12 release, much of it misleading.

Over the last 40 years, the middle-class indeed did grow smaller. However, it was because the proportion of U.S. households in upper income brackets rose strongly.

In 2017, 7.7% of U.S. households were in the highest annual income class — $200,000 and over annually — compared with 1.6% in 1977.

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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