The argument that “the middle class is being hollowed out” is (IMO) pure dogma, there’s very little evidence to support it.
Take the median US household by gross income in 2003 & compare it to that same household in 2025. The 2025 household will utterly destroy it across any economic or hedonic metric.
If you control for household demographics and generational immigration history the gap becomes even more dramatic.
Take the median US household by gross income in 2003 & compare it to that same household in 2025. The 2025 household will utterly destroy it across any economic or hedonic metric.
If you control for household demographics and generational immigration history the gap becomes even more dramatic.