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According to a new study by the pew research group the middle class is shrinking.
But is not just because they're getting Cora is because some of them -- getting richer.
Elizabeth MacDonald is here.
I want some numbers here.
You wouldn't get what you just said from the headlines on this story write the headlines -- -- the middle class is shrinking field but what's buried and what's so bad about the national conversation reporting on this -- -- incomplete it leaves out what did the pew research shows and let.
IRS data shows and does not show it let's get to the numbers -- the pew research by the way which is done based on surveys.
Right so self reporting here lot of people feeling bad okay.
Self identified as middle class by 201151%.
So where do those people don't they don't feel like their middle class anymore so here's a number you're gonna see more people reported that they were in the upper income right.
Six percentage points more.
You know said basically we're in the upper income.
Vs four percentage point and said we are in the lower incomes.
Stewart that's that's interesting so that they self identify.
Not so much middle class and longer and -- if -- -- -- -- -- -- -- -- -- middle -- America.
Right increasing numbers site online and in the upper class not -- couple classes but I'll -- income group that's right 6% of moved.
-- of self identifying -- middle.
In 2 o'clock 6% yep that's right that's not what he's done some -- -- -- home.
That's correct -- and what they're not also reporting is that pew research is showing that the net income -- grown.
Across the board for the upper bracket for the middle bracket and for the lower income classes.
You know those numbers are 43% for the top 34% for the middle and -- 9% for the lower.
Income brackets but they're saying that basically be in the middle income -- lost decade of of growth in income.
But you know get -- back up there's no lifetime membership and the wealthy clubs -- -- the -- club.
You know if you look at IRS data between the -- to 96 and 0558%.
Of the lower income moved up.
Where it's 57% of the 1% drop down and what's missing and that did it too is that the poor get food -- reported this housing subsidies Medicaid Medicare.
And in -- and also the -- income tax credit.
What's missing two in the middle class income stories that they can't health care benefits they get forum in case pension or life insurance benefits from and that's -- income.
Did -- too because that's what's missing in and then he's.
A lot of misrepresentation.
Of America's middle class yeah that's everybody's golf and where it's going.
List thanks -- sweating it out for viewers or.
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