https://finance.yahoo.com/news/family-income-now-highest-since-2002-172210328.html
Also, Toll Brothers reported orders are up 26% and profits are up 40%. The bullish data just keeps happening.
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Many more upper income people and many more lower income people. Many of the middle class moved to upper income class. So it’s not an coincidence we have a divided country now. Politics is a reflection of economic reality and trends
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What is the definition of moving from one class to another?
Are we saying descendants of one class move to another class?
Given immigration, US population keeps growing, so we are not sure whether the change in class is due to movement of descendants or profile of immigrants.
Thought experiment:
Assuming descendants of a class doesn’t change class, then the change in class % is due to immigration.
Legal immigrants tend to be more educated, in hi-tech, then they could come in as middle class and some even at upper income. So this would push up the % of upper and middle income.
Undocumented immigrants are mostly in the lower income group (am I right?), so it would push up the % in lower income group. So this would push up the % of lower income.
Since the % in middle income shrank despite the incoming legal immigrants, it means there are more undocumented immigrants including immediate family and descendants who eventually become citizens, than legal immigrants who tend to have smaller family.
Since the % of upper income has increased, it means many descendants of the middle/lower income class have moved up to that, some could be from legal immigrants but they are not that many so is unlikely to affect the % that much.
Above is just a thought experiment. Politicians and think tanks should show us the number. No point talking about macro figures and trends. Drill down and show us the relevant details.
They aren’t tracking where the people are from that end up in each income group. Just that the percent of the population in each income group is changing. I agree it’d be good to understand where the people who are growing the top and bottom are from and how they got there. Then ideally we want policies to encourage more people to move up.
