Select date

May 2024
Mon Tue Wed Thu Fri Sat Sun

Middle-class meltdown

6-5-2024 < Attack the System 2674 206 words
 
“Lately, I’m getting the feeling that I came in at the end. The best is over.” 

It’s been 25 years since Tony Soprano bemoaned his life in the opening scene of “The Sopranos.” A quarter-century later, plenty of Americans feel the same about the middle class.



Business Insider’s Jennifer Sor has a report on the people making over six figures who think the middle-class lifestyle they dreamed of isn’t realistic for their salary. Take Vincent, a 29-year-old medical sales rep who makes $130,000 a year but feels big-ticket items like a home or a car are out of reach.



The middle class’s obituary has been written before. In 2015, the Pew Research Center noted that middle-income households were losing ground.



Still, it’s gotten even harder. Owning a home, a key piece of middle-class life, has become impossible for many. According to a recent report from Zillow, homebuyers need to earn 80% more than before the pandemic.


It’s not just life-changing purchases, though. Stubborn inflation has made daily purchases — even something as simple as fast food — a burden. And good luck trying to climb the corporate ladder to get a better-paying job. They aren’t hiring.

Print