A middle-class American family made less last year than in 1989, according to a new Census Bureau report released on Tuesday. Meanwhile, Forbes magazine this week reported that the 400 wealthiest Americans doubled what they were worth a decade ago and “finally gained back all that they lost” in the 2008 economic collapse.
The Census Bureau also reported that:
- The typical middle class family has seen its income go down by more than $5,000 since 1999 after adjusting for inflation.
- Average male workers made $283 less last year than they did 44 years ago.
- Average female workers earned $1,775 less last year than they did in 2007.
- A record breaking 46.5 million Americans lived in poverty last year.
- 16 million children in America (21.8% of all kids in America) lived in poverty last year.
- A higher percentage of American kids lived in poverty last year than in 1965.
- A higher percentage of African Americans lived in poverty last year than 15 years ago.
- 9.1% of seniors lived in poverty last year, higher than in 2009.
- More American seniors were living in poverty last year than in 1972.
- 48 million Americans are uninsured, 3 million more than in 2008.
If I could nominate Bernie Sanders for sainthood, I would do it.