I recently ran across an interesting interactive piece from the NY Times. Who ever over there created it did a great job. It is called How Class Works and it depicts the different levels of class in the US. It shows Components, How Class Breaks Down, Income, and Wealth.
Why I think it is important is as we embark on a recession we must consider the effects of the last one. Wages didn’t really increase when inflation is considered. Here is the stat:
2006 median household earned $48,201
1999 median household earned $49,244