Most Americans Are Getting Poorer. How “Healthcare for the Rich” Is Killing Many of Them
“Pew Research recently found that major U.S. metropolitan areas experienced significant growth in upper-income and lower-income households since the year 2000, with a dramatic dropoff in-between. Two out of every five middle-income households, as reported by the New York Times, have dropped out of the middle-class income range, becoming either upper-income or lower-income. If WEALTH is considered rather than INCOME, it becomes evident that most of the middle class is heading DOWN rather than UP, because the total net worth (home and financial assets minus debt) of the richest adult in the bottom 70% of North Americans is only about $150,000 (Table 6-5).”