It turns out that the middle class isn’t stagnant after all. You know the conventional wisdom. The richest 1 percent of Americans have siphoned off all the income gains of recent decades. Everyone else is treading water. The claim has been repeated so often that it’s taken on the aura of truth. The reality is different: Living standards for most income groups have improved, especially for the upper middle class, which has more than doubled in size.
Is the middle class moving up?
