Articles stating that the rich are getting richer while the poor and middle class stay stagnant are really all smoke and mirrors. Here is how it works:
Say John Smith graduates high school and starts flipping burgers for a living. He makes minimum wage and is definitely in the poorest class.
After a few months, he gets a promotion to assistant manager and gets a raise. Now he is lower-middle. Did the poor just get richer? No, the “poor” changed classes and is no longer poor.
Later John gets a new job where he makes a middle-class income. Again, the lower-middle didn’t get richer, he changed classes.
John starts his own business and works 60 hours per week. The business is a success so he is pulling in an upper-middle income. He changed classes yet again.
John gets a brilliant idea for a new and improved thing-a-ma-bobby. He arranges manufacturing and advertising and before you know it, he is pulling in a steady “rich” income.
He invests some money in other companies and some other ideas, invents a few more things and triples his income. What class is he in now? Fact is, he is still in the “rich” class. There is no other class to go to. So guess what? The Rich just got richer. Did the poor and middle classes get richer? Nope. They are the same. Not because the individuals aren’t doing better, but because when they do, they no longer are poor or middle-class.
So, next time you hear someone complaining that “The rich just get richer while the middle and poor stay the same,” you can be sure they either haven’t thought it through or that they are intentionally promoting class warfare for political reasons.
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