Today on the show: Bernie Sanders and Elizabeth Warren are fond of mentioning that the "Middle Class is shrinking." Of course, they bet on their supporters choosing not to look at where they are going. The data are in. People are moving into the Upper Class at an amazing rate. From Mises.org: Over the past forty years, for example, the proportion of households making less than $50,000 per year has continued to decline. The percentage of households with incomes under $50,000 fell from 49.5 percent to 39.9 percent, from 1969 to 2018. It's true that households in the $50,000 to $100,000 range also went down, dropping from 38.2 percent to 29.7 percent over the same period. But where did those people go? They weren't going into the under-$50,000 group because that group was shrinking. In fact, there are now more households in the over-$100,000 than in the $50,000-$100,000 category. The idea that Bernie and Warren are trying to drill into their followers heads is that people are slipping out of the middle class and falling into the lower class. This of course supports their assertion that the almighty U.S. government should step in and redistribute the wealth more evenly. --- Support this podcast: https://anchor.fm/goodmorningliberty/support)
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