Maureen Callahan for The New York Post takes a look at the big squeeze of the middle class in "Class Dismissed: Why Middle Income Jobs Are Not Coming Back."
Here's an excerpt:
‘I don’t know if I’m middle class anymore,” says Mark Lieber, 54. “From what I read, if you’re earning over $150,000, you’re in the top 5% of earners.” He echoes Francese: “In New York, that’s not rich.”
Here's how you know you're solidly middle class:
You retired last year at age 65 and your last salary was $107,000. You own your 3 bedroom house and one car outright, you're still married to your first wife who never earned a paycheck but raised your four kids, for whose college educations and the weddings of two who were girls you paid (mostly), and you have no debt and about $391,000 socked away in cash.
That's the territory between the third and fourth income quintiles from 1980, adjusted for inflation.
Know anyone like that?
