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

[Newsjock]

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

[LiberalEsto]

1. The corporations' plan is working

Soon the middle class may be just a memory, and our descendants will be illiterate serfs.

[liberal N proud]

6. Same thoughts here

[Turbineguy]

10. I wonder who's going to buy their products?

[izquierdista]

2. I see where spell check isn't working

The quote from Ms. Bohn has an extra 'f' in it.

[VWolf]

7. I didn't know "relect" was a word.

Sorry, just being snarky.
:toast:

[izquierdista]

8. Takes one to know one.....

And sure, we should :toast: hoist one.

[xchrom]

3. Recommend

[Hugin]

4. Total family income of "$44,000 to $155,000 a year"!i1!!

Wow... Pretty "Conservative" definition of "Middle Class" there. :eyes:

[mascarax]

5. Mission accomplished, Reagan (n/t)

[cowcommander]

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. :(