America is slipping backward, if you buy the angry rhetoric from this year’s presidential campaign. The rich are getting richer, the middle class can barely make it and the ranks of the poor are swelling.
Except the numbers tell a somewhat different story. In a new study, the Urban Institute examined the composition of the middle class since 1979, and found that it is, in fact, shrinking. But more people seem to have moved upward on the income scale than downward.
Rick Newman | Yahoo Finance