Although the percent of US household income held by the bottom 20% of the population in
the U.S. has held steady over the past 30 years, the percentage held by the top 5% of
households has increased, especially since the 1980s. In other words, the rich are getting
richer, the poor are staying poor, and the middle/working class is squeezed out of the center
towards the bottom. Most studies indicate that while some middle class families have moved up,
many more in the bottom two fifths of the stratification hierarchy have been squeezed toward
the bottom, even with dual income families.
The poverty rate has fallen since this graphic data. It is now at 13.8% of the population.
Still that is about 35 million people in poverty. And that is a national figure based on
the government’s poverty line of $16,700 for a family of four. Because this definition does
not count homeless people, keep up with inflation (the cost of heating fuel for example),
consider that housing costs take a greater share of the budget, nor account for regional
variations, it may under estimate poverty. Better estimates place the poverty rate higher
with 60 million people living at or near poverty.
FYI- The 1996 poverty rate in New York state was 16.2%. For children under 18 it was 25.4%.
The median household income in New York State was $35,737 in 1996. http://www.census.gov
