More Americans Are Breaking Into the Upper Middle Class
More Americans have moved into upper-middle-class incomes over the past several decades (source paywalled; alternative source), with new research suggesting that group has grown sharply while the lower and core middle class have shrunk. The Wall Street Journal reports: In 2024, about 31% of Americans were part of the upper middle class, up from about 10% in 1979, according to a report released this year by the right-leaning American Enterprise Institute. There is no single, standard definition of middle class, or upper middle class, and what counts as a hefty income in one city can feel paltry in another. The AEI report, by Stephen Rose and Scott Winship, classified a family of three earning $133,000 to $400,000 in 2024 dollars as upper middle class. Households earning more were categorized as rich. The analysis looked just at incomes, not assets such as stocks or real estate.
[...] The gains span generations. Many baby boomers, born to parents who grew up in the Great Depression, are living well on their savings, aided by steady Social Security checks and decades of stock-portfolio gains that they can now tap. Millennials, who everyone worried would be permanently set back by the 2008-09 financial crisis, are earning solid incomes, buying homes and surpassing their parents. Many families are surprised to find that they have moved into this new economic tier, and see themselves as comfortable, not rich. They tend to have jobs that are white collar but not flashy -- think accountants, not tech founders.
This doesn't mean that all Americans are climbing the ladder. Entrenched inflation and higher prices on major necessities have pushed many families closer to the financial edge, or locked them out of homeownership. Those costs weigh on high-earning families too, and for many are the reason they don't feel wealthy. The AEI report divided families into five different groups by income. Three groups were in the middle: lower middle class, core middle class and upper middle class. The authors found that more families now fall into the two highest-earning groups -- upper middle class and rich -- and fewer fall into the three lower-earning categories.
Read more of this story at Slashdot.
'I tried 3 of Haagen Dazs' new ice cream flavours - one is pure summer in a tub'
"Chocolate brownie, Tiramisu and Matcha flavours are all fantastic, but one really takes the biscuit"
Melania Trump stuns in pricey business-chic ensemble as she steps out at the White House Easter Egg Roll 2026
The First Lady, 55, joined husband President Donald Trump for the fun-filled day on the South Lawn, donning what appeared to be the $2,790 Annabeth Grain de Poudre Jacket by Ralph Lauren Collection.
Memoirs of a Gay Shah: Reza Farahan recalls going from refugee to Beverly Hills rich kid alongside Erik Menendez and Monica Lewinsky...and his surprising secret with co-star MJ
The Shahs of Sunset star, 52, is spilling it all - from exile and near-death danger to celebrity classmates, steamy encounters and reality TV secrets in his explosive new book.
Frankie Bridge breaks down in tears as she reveals agonising dilemma over sending severely dyslexic son Carter, 10, to an 'expensive' specialist school far away from home
Frankie Bridge broke down in tears as she revealed she is struggling to cope with her son Carter's worsening dyslexia.
Colchester Institute tax ruling could reshape funding for colleges
Colchester Institute, in Sheepen Road, finally received a ruling in a long-running tax fight with the HMRC, which was decided before the Court of Appeal.
Celebrity Easter celebrations ranked from tacky to classy - from one TV presenter's 'dated' spread to an A-lister that is 'surprisingly high street'
From daffodils to bunny shaped napkins and festive garlands, it's easy to drown in pastels and egg-shaped gimmicks when it comes to Easter decorations - and it seems A-listers are no different.
How the mysterious 'family curse' that sees cancer cruelly rampage through generations could be caused by this drug given to thousands of desperate post-war women. Here's how to find out if you're likely to be an unwitting victim
The loss of your mum is terrible at any age, but Christine Holt was just 24, and her sister only 15, when their mother, Sylvia, died.
'Nobody cared about me': Friends star Lisa Kudrow says she felt like 'an afterthought' among the six cast members
The actress suggested her costars Jennifer Aniston, Courteney Cox, Matt LeBlanc , the late Matthew Perry and David Schwimmer eclipsed her in popularity while the series was still on television.
Glasgow becomes fat jab capital of the UK - where 1 in 3 dieters are on Mounjaro or Ozempic
Glasgow has become the fat jab capital of the UK, where as many as one in three adults trying to lose weight are using them.
Ronan Keating breaks down in tears sharing biggest regret about his brother's death, sobbing 'I grew up quickly and made a lot of sacrifices'
Boyzone and The One Show star Ronan, 49, is fronting a BBC show titled Ronan Keating's Wild Atlantic Way.
No more cheeky Prince Louis! Royal was on his best behaviour at Easter service as fans praise 'well mannered' seven-year-old who looked 'so grown up' in his smart double-breasted suit
He's known and beloved for his cheeky antics at royal events - but the famously playful Prince Louis appeared to be on his best behaviour during Sunday's Easter Service at St George's Chapel.
Why the Caribbean is the ultimate 'safe and sunny' destination for this summer. Here's where to book now before the global crisis prices you out
The crisis in the Middle East has led to a surge of interest in holidays to the safe and sunny Caribbean.
Moment hooded thief pulls freshly-planted hyacinth from a couple's driveway flowerbed before placing it in her bag for life
In bizarre footage, the woman, who appears to be in her 60s, can be seen strolling along the driveway at the home of Dennis and Svitlana Jacobsen.
Militant trans activists publish guide urging members to arm themselves as well as protest to MPs and organisations
Bash Back told activists to create 'independent local cells', 'identify a target' and 'ensure your target can be hit repeatedly until they desist' from what the group considers 'transphobic' activities.
Plans to demolish bungalows for redevelopment include preserving WWII plaque
Chelmsford’s 1940s Andrews Place bungalows to be demolished for new homes, with blue plaque commemorating WWII heroine Florence Attridge to be preserved.
Peter Thiel Is Betting Big On Solar-Powered Cow Collars
Halter, a New Zealand agtech startup now valued at $2 billion, has raised $220 million to expand its AI-powered cattle management system. "Halter is now valued at $2 billion following the Series E, which was led by Peter Thiel's Founders Fund with participation from Blackbird, DCVC, Bond, Bessemer, and several others," reports Inc. From the report: Halter plans to use the funding to expand its existing footprint in the U.S., Australia, and New Zealand, as well as to grow into new markets such as Ireland, the U.K., and parts of North and South America. The round is one of the biggest to-date in the industry, and comes amid growing adoption of the technology among U.S. ranchers. According to Halter, U.S. ranchers have erected some 60,000 miles of virtual fencing since the company's launch in 2024.
Halter's technology works through a system of solar-powered collars and in-pasture towers that collect data -- some 6,000 data points per collar per minute -- from grazing cattle and feed it into a cloud-based platform and app for farmers. The collars are ergonomically designed to be comfortable for the cattle wearing them, and leverage AI to play audio cues or vibrate when it is time to move to a different grazing location or if they step outside of a predetermined zone. The collars can also deliver an electric pulse if an animal does not respond.
Halter's app also creates a digital twin of a ranch, which essentially means a digital replica that leverages real-time data to accurately reflect conditions. Farmers can consult the app to check on their herd, or fence, and move cattle with just a few clicks. Halter also has a proprietary algorithm that it calls a "Cowgorithm" trained on seven billion hours of animal behavior. Altogether, this technology is meant to make ranchers' lives easier when herding cattle, help them save money on building physical fencing, and provide insights about pasture management to improve soil health and pasture productivity. Halter says some 2,000 farmers and ranchers currently use its tech worldwide.
Read more of this story at Slashdot.
Plans to demolish bungalows for redevelopment include preserving WWII plaque
Chelmsford’s 1940s Andrews Place bungalows to be demolished for new homes, with blue plaque commemorating WWII heroine Florence Attridge to be preserved.
Residents were evacuated for six hours after devastating Braintree fire
The blaze broke out in Aetheric Road on Thursday afternoon and left two people needing medical treatment.
'What keeps Donald Trump awake at night?' set to be explored with his former comms director at Fleet Street Festival of Words
Strikes, scandals, state secrets - there's a lot that could keep Donald Trump awake at night.