A middle-class American family made less last year than in 1989, according to a new Census Bureau report released on Tuesday. Meanwhile, Forbes magazine this week reported that the 400 wealthiest Americans doubled what they were worth a decade ago and “finally gained back all that they lost” in the 2008 economic collapse. “You want to know why the American people are angry and disgusted and frustrated?” Sen. Bernie Sanders asked in a Senate floor speech on Wednesday. “That's why,” he thundered.
The Census Bureau also reported that:
- The typical middle class family has seen its income go down by more than $5,000 since 1999 after adjusting for inflation.
- Average male workers made $283 less last year than they did 44 years ago.
- Average female workers earned $1,775 less last year than they did in 2007.
- A record breaking 46.5 million Americans lived in poverty last year.
- 16 million children in America (21.8% of all kids in America) lived in poverty last year.
- A higher percentage of American kids lived in poverty last year than in 1965.
- A higher percentage of African Americans lived in poverty last year than 15 years ago.
- 9.1% of seniors lived in poverty last year, higher than in 2009.
- More American seniors were living in poverty last year than in 1972.
- 48 million Americans are uninsured, 3 million more than in 2008.