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Ahh The land of the free and the almighty dollar, where obviously the rich get richer and middle and lower classes get poorer.There are now a record 900 American billionaires which means 500 American billionaires are too poor to make this year’s Forbes 400.
UBS estimates that the number of millionaire American households increased 1.5% last year. For some, the American dream is alive and well..
Still, the American middle class shrank from 61% of the population in 1971 to 51% in 2023. Those who fell out of this cohort did not fall up.