The middle class might be developing a bit of a complex about its size. After all, rarely a month goes by without a headlines about how it is “shrinking”. Sometimes the preferred verb is “hollowing out”, but that doesn’t sound too great either.
Middle class are professional people they don't work in retail or drive a van. If there's less of them who going to oil the cogs that keeps the system running smoothly, the rich? Ahhah don't make me laff!
Alarm over the ‘shrinking’ middle class hides a more important truth about the state of income inequality
Without access to credit facilities, it would be interesting to see how many people could maintain a, as described, middle-class lifestyle.
OECD defines the middle class as a range around the median household income, specifically between 75% to 200%. A middle-class income in the UK, $16,000 to $42,000. £12k to £32k is middle class.....? Yeah, right.
Ex-squeeze me?
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