American Middle Class Grew Richer, Felt Poorer

Contrary to popular belief, the American middle class has not diminished but has instead become wealthier, according to calculations by the American Enterprise Institute. The upper middle class, defined as households earning between $133,000 and $400,000 annually, has more than tripled in size since 1979. Despite this increase in income and wealth, many in this demographic report feeling economically insecure or poorer, suggesting a disconnect between objective financial gains and subjective financial well-being.