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Report: California's middle class shrinks to below 50 percent

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Newsjock Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 07:35 AM
Original message
Report: California's middle class shrinks to below 50 percent
Source: Contra Costa Times

Not even half of California's families are middle class anymore as the recession and its aftermath widened the gap between rich and poor, according to a new report.

Three decades ago, 60 percent of California families could count themselves in what the Public Policy Institute of California calls the "middle-income" bracket. Not rich but doing reasonably well, the middle class formed a comfortable majority and shared the state's prosperity.

But the portion of middle-income families slipped to 49.7 percent last year, according to the nonpartisan research group's study. Using census figures and a federal standard-of-living measure adjusted for inflation, the report defines the middle-income bracket as families who earn $44,000 to $155,000 a year.

"It really reflects a decades-long trend, at least three decades of shifts in our economy," said report co-author Sarah Bohn.

Read more: http://www.mercurynews.com/top-stories/ci_19493664
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LiberalEsto Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 07:46 AM
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1. The corporations' plan is working
Soon the middle class may be just a memory, and our descendants will be illiterate serfs.
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 08:20 AM
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6. Same thoughts here
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Turbineguy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:13 AM
Response to Reply #1
10. I wonder who's going to buy their products?
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izquierdista Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 08:01 AM
Response to Original message
2. I see where spell check isn't working
The quote from Ms. Bohn has an extra 'f' in it.
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VWolf Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 08:28 AM
Response to Reply #2
7. I didn't know "relect" was a word.
Sorry, just being snarky.
:toast:
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izquierdista Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 09:11 AM
Response to Reply #7
8. Takes one to know one.....
And sure, we should :toast: hoist one.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 08:08 AM
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3. Recommend
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Hugin Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 08:15 AM
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4. Total family income of "$44,000 to $155,000 a year"!i1!!
Wow... Pretty "Conservative" definition of "Middle Class" there. :eyes:
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mascarax Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 08:18 AM
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5. Mission accomplished, Reagan (n/t)
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cowcommander Donating Member (679 posts) Send PM | Profile | Ignore Thu Dec-08-11 09:14 AM
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9. I'll be moving soon too, life in California sucks
Shit job market, high cost of living, miserable state of living overall...it's just not worth it anymore. The thing is I do like this state and the weather, but if things get worse I won't be able to afford living here anymore. :(
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