Sunday, December 13, 2015

Donald Trump's Rise Coincides with Decline of the Middle Class

At WaPo, "Charting Trump’s rise through the decline of the middle class":
For anyone trying to understand the emergence of Donald Trump as a force in this pre-election year, the Pew Research Center this past week provided some valuable insight. There’s little doubt that what has happened to America’s middle class has helped to create the climate that has fueled Trump’s sudden rise.

The Pew study charts the steady decline of the middle class over the past four decades. It is a phenomenon often discussed and analyzed, but the new findings highlight a tipping point: Those living in middle-class households no longer make up a majority of the population.

There has been a “hollowing out” of the middle class, as the study puts it. In 1971, the middle class accounted for 61 percent of the nation’s population. Today, there are slightly more people in the upper and lower economic tiers combined than in the middle class.

The report is not entirely gloomy. Every category gained in income between 1970 and 2014. Those in the top strata saw incomes rise by 47 percent. Middle-income Americans saw theirs rise by 34 percent. Those at the bottom saw the most modest increases, at 28 percent.

But the share of income accounted for by the middle class has plummeted over the past 4 1 / 2  decades. In 1970, middle-class households accounted for 62 percent of income; by 2014, it was just 43 percent. Meanwhile, the share held by those in upper-income households rose from 29 percent to 49 percent, eclipsing the middle class’s share.

The past 15 years have been particularly hard on wealth and income because of the recession of 2001 and the Great Recession of 2007-2009. For all groups, incomes rose from 1970 to 2000. In the next decade, incomes for all groups declined. During the past four years, incomes rose 3 percent for the wealthiest, 1 percent for middle-income Americans, and not at all for those with the lowest incomes. For those in the middle, the median income in 2014 was 4 percent lower than in 2000, according to the study.

For most families, the two recessions have wiped out previous gains and widened the wealth and income gap between the wealthiest and all others. “The losses were so large that only upper-income families realized notable gains in wealth over the span of 30 years from 1983 to 2013,” according to the Pew study....

This is where the report connects directly to what’s happened politically this year. Pair those last findings from the Pew study with what recent polling shows about who supports Trump.

A recent Washington Post-ABC News survey found Trump leading his rivals overall, with 32 percent support among registered Republicans and Republican-leaning independents. Among white people with college degrees, he was at 23 percent and led his nearest rival by only four percentage points. Among white people without a college degree, however, his support ballooned to 41 percent — double that of Ben Carson, who was second at 20 percent, and five times the support of Sens. Marco Rubio (Fla.) and Ted Cruz (Tex.), who were tied for third...
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