Your second point is clearly wrong. The middle class is shrinking, yes, but those people are moving up, not down, in income.
Certainly not in constant dollar terms.
In the past 50 years the middle class median income has increased 50% in constant dollar terms.
https://www.weforum.org/agenda/2022/07/household-income-distribution-wealth-inequality-united-states/
I have a stack of charts, unfortunately not links that dispute this.
Or take a look at this:, and it's not so different on this side of the border:
https://nationalpost.com/opinion/secret-rcmp-report-warns-canadians-may-revolt-once-they-realize-how-broke-they-are
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Your second point is clearly wrong. The middle class is shrinking, yes, but those people are moving up, not down, in income.
Certainly not in constant dollar terms.
In the past 50 years the middle class median income has increased 50% in constant dollar terms.
https://www.weforum.org/agenda/2022/07/household-income-distribution-wealth-inequality-united-states/
I have a stack of charts, unfortunately not links that dispute this.
Or take a look at this:, and it's not so different on this side of the border:
https://nationalpost.com/opinion/secret-rcmp-report-warns-canadians-may-revolt-once-they-realize-how-broke-they-are