Chart: The middle class — “poorer, earning less and shrinking”

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Eyder Peralta points to a new Pew study that finds the middle class “poorer, earning less and shrinking.” For example:

[I]n 1970, the middle class held 62 percent of the income in the country. The upper income held 29 percent. Those numbers have now flipped: The middle class is at 45 percent and the upper income class is at 46 percent.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.