The middle class is gone.
According to Fed data, the top 1% of Americans now control ONE-THIRD of all US net worth.
Since 2020, the top 1% have gained +$30 TRILLION in net worth, while the bottom 50% are worth just $4.3 trillion.
What is happening? Let us explain.
(a thread)
@CollinJHumphrey You’re a great example for this generation and quite frankly, myself. Keep posting Colin. Good to see a fellow tradesman making his way.
@TomEllsworth Homes are overpriced Tom. Dropping mortgage rates won’t help first time homebuyers paying for over inflated homes. If anything, that would increase home prices even more. The market must correct itself painfully.
@PBDsPodcast Agree with your idea but I’ll take it a step further: anyone married who has 3 or more children pay 0 federal income taxes. Increase birth rate, stimulate local economy.