All the data on the subject seems to point to a pretty widely accepted idea that the top 1 percent experienced a strong rebound from the Great Recession and is doing well. And while that may be true, it isn’t just the top 1 percent that is doing well. The upper middle class, often defined as families earning between $100,000 and $350,000, or at least five times the poverty level, has been coming on strong too.
As The Wall Street Journal reports, in 1979 the upper middle class accounted for about 12 percent of the population, by 2014, the upper middle class had grown to a record share of almost 30 percent of the population.
The gap between the top and the bottom in terms of wealth is growing, but the chasm isn’t just relegated to the 1 percent and the 99 percent, instead, it is the top 25 percent that is pulling away from the rest.
To view statistics and accompanying charts, click the link below.