USA HISTORY

Detailed explanation-1: -Though the American middle class does not have a definitive definition, contemporary social scientists have put forward several ostensibly congruent theories on it. Depending on the class model used, the middle class constitutes anywhere from 25% to 75% of households.

Detailed explanation-2: -At the end of the 1960s, about 61 percent of all American adults were part of the middle class. Today, only half of all Americans can consider themselves middle class, and that might have something to do with income inequality.

Detailed explanation-3: -When asked how they identify their social class, 73% of Americans said they belonged to the middle or working classes, according to an April 2022 survey from Gallup. Fourteen percent identified themselves as as upper-middle class and 2% categorized themselves as upper class.

Detailed explanation-4: -In 2021, just 50% of American adults lived in middle-income households-down from 54% in 2001, 59% in 1981, and 61% in 1971.3 The middle class has been both decreasing in population share and seeing its cut of the income pie shrink.