The middle class is the backbone of democracy, but in modern America, it is under threat. In this video, Victor Davis Hanson explores the erosion of middle-class citizenship.
- The middle class constitutes 50% of the U.S. population as of 2021, which is quite a bit smaller than it has been in nearly half a century.
- Historically, the middle class has been the engine of American economic growth and prosperity.
- The share of income captured by the middle class fell from 62% in 1970 to 43% in 2014.
- The middle class is shrinking due to an increase in population at the extreme bottom and top of the economic spectrum.
- The median income in the U.S. was $65,000 in 2020 (regardless of household size).
