The percentage of US households earning more than $150,000 has grown significantly since 1965, while the middle class ($50,000 to $149,999) has been steadily shrinking. This chart from the US Census Bureau (in 2024 dollars) reveals a fundamental shift in American income distribution.

Michael W. Green’s analysis in “My Life Is a Lie” examines how an outdated poverty measurement formula has masked the true cost of living in modern America. The real threshold for basic financial survival is approximately $140,000 annually for a family of four—far above the official $31,200 poverty line established using 1963 methodology.

Bank of America study shows all generations, aside from Gen Z, have seen a softening in their spending growth over 2025, however the rate of growth is weakest for Millennial and Gen X households. Click here for full article.