CBS Poll: The Middle Class Squeeze

The last few years have seen economic gains for the wealthiest Americans, at least in part resulting from tax cuts and investment gains, and many Americans are living well — buying large homes, expensive cars and luxury products. But has any of this wealth trickled down to the middle class?

According to the latest CBS News Poll, most Americans — and most of those with mid-range incomes — don't think so; instead, many think the middle class has experienced tougher times. 59% think that life for middle class Americans has gotten worse in the last 10 years. Just 30% think it's gotten better.

54% of those with incomes of $30,000 to $75,000 (44% of those who describe themselves as "middle class" have incomes in this range) concur that life has indeed gotten worse for the middle class.

Over the past 10 years, life for the middle class has gotten:
(All respondents)
Better
30 percent
Worse
59 percent
Same (vol.)
7 percent

($30,000-$75,000)
Better
31 percent
Worse
54 percent
Same (vol.)
12 percent

Those with incomes of $30,000 to $75,000 would have trouble paying for large or unexpected expenses. 47% in this income range would have a lot of trouble paying a bill for $1000 right away, and 47% are very concerned about paying for large expenses such as healthcare, tuition, housing or retirement.

But most Americans with incomes of $30,000 to $75,000 are
managing to stay afloat financially. 56% are keeping their heads above water. Just one in 5 is getting ahead, and 23% are falling behind.

Overall, half of Americans feel that they are staying even financially. A quarter say they are falling behind, and another 22% say they are getting ahead. Nearly a decade ago, in early 1998, Americans were more likely to feel they were getting ahead.

Financially, are you ... :
(All respondents)
Getting ahead
21 percent
Staying even
50 percent
Falling behind
27 percent

($30,000-$75,000)
Getting ahead
19 percent
Staying even
56 percent
Falling behind
23 percent

(1998 poll response)
Getting ahead
31 percent
Staying even
48 percent
Falling behind
20 percent

Among those with incomes of $30,000 to $75,000, seven in 10 have not graduated from college. This group tends to be middle-aged; 31% are 30 to 44 years old and another 34% are 45 to 64. Most are white, and more than half live in the Midwest or South.

For detailed information on how CBS News conducts public opinion surveys, click here.

This poll was conducted among a random sample of 994 adults nationwide, interviewed by telephone April 9-12, 2007. The error due to sampling for results based on the entire sample could be plus or minus three percentage points. 396 interviews were conducted among respondents with household incomes of $30,000 to $75,000; the margin of error for this group is plus or minus five percentage points.

[jfgordon24]

The rich don't get taxed as much becuz the politicians are trying to stay on their good side.. so they will donate money for their campaign, so they can win...its pretty simple.. n it will b that way for a very long time...

[bellal-2009]

The only thing better for the middle class is retirement accounts which doesn't exactly help because of the 10% penalty for early distribution which is outrageous. Middle class should not have to pay that penalty.

[bellal-2009]

What planet are those 30% on that think things are better for the middle class.

[bellal-2009]

Sorry frankly6, you raise my taxes by 10% and I'd have to borrow to make up the difference. My property taxes have doubled, my health insurance has increased by 30%, my income has stayed the same. NO MORE TAXES on the middle class. We're drowning here.

[acauble1]

For the United States to survive as a country beyond 20 years from now, there must be two things done immediately:

Cut spending on everything by 50%. (yes, everything)!

Raise taxes on everyone by 10% (income, cap gains, dividend, everything).

And maybe that **might** take care of the interest on our national debt. Though the upcoming crises in Social Security and Medicare may be nearly impossible to avoid even with the suggestions above.

It's a hard pill to swallow, and many people can't handle the truth and sacrafices we all will have to make in the near future.

The vast majority of the voting public would best be symbolized as a 400 pound person about to shove a Big Mac in their face....

...if asked to trade-in the Big Mac for a leafy green salad (no dressing), the answer would be pretty obvious...

...and the future result will be clear.
Irresponsible politicians exclaim there is nothing to fear,
but because of their arrogance,
our death as a sovereign country,
is near.

[frankly6]

This is "trickle down economics" at its best.

It's time we stop running up massive deficits so that the wealthiest amoung us enjoy huge tax cuts and the bill is passed on to the middle class.

[mh4cbs1]

Why are my WAGES taxed at a HIGHER rate that the Billionaires who make a killing in the investment world while they sit on their ***??

Because the Republicans and Democrats BOTH represent the wealthy, the corporate elite.

And every time someone complains about the massive RIP-OFF, the billionaires accuse the middleclasss of "Class Warfare".

Its a Class War all right! And it has been waged AGAINST the middleclass since Ronald Reagan, and the middleclass has been getting Hammered!

Wake up and FIGHT BACK. Vote them OUT, Republicans AND Democrats who only pay lip-service.

[jn122736]

gkc99,

I would have to agree with a lot of what you say about Bill Clinton%u2019s administration. I have often said Bill Clinton was the best republican president since Ike.

Signing NAFTA, backing excessive gun control laws, and a few things like that caused a lot of moderate democrats and independents to change their voting practices allowing the republicans to take over both branches of congress for the first time in decades, and consequently the presidency for the past 6 plus years.

Not trying harder to get independent Judges approved by the republican Senate didn%u2019t help much either.

I don%u2019t know about Hillary but right now we need a democratic president or a large enough majority of democrats in both houses to over ride vetoes in order to repair the mess the Bush administration has brought us down to. An independent president would be acceptable but that isn%u2019t really possible at this time. So I would vote for Hillary over a republican in 2008 though I would prefer a better choice.

[gkc99]

While the Bushits, George the Elder and his son Curious George, have done much to plunder the middle class, giving huge tax breaks to their billionaire pals and putting their optional war on a credit card, let's not forget all that Globalizer #1, Bill Clinton, the President from Microsoft and Intel, did to screw over the middle class. Outsourcing, giveaways of key technologies to Asians for money, loss of US manufacturing and technological edges, we can all thank Hound Dog Billy for. Can Wronged Wife #1, Hilly, be any less in favor of these programs? Is there any political party that does things for Americans, not foreigners, any more?

[ne_patriot7]

The timing of this article co-incides with an article in my local paper this morning..

These stats are for the immediate area around where I live over the past 8 years:
Housing value: down 27%
Taxes (for individuals: up 49%
Taxes (for business): up 70%
Manufacturing: ten major manufacturers have gone belly up of left the area, including IBM, GE, a major shoe manufacturer, Link systems, and with these companies leaving, 22,000 jobs have been lost.. That's part of the reason home values are in the sh*tter, the market is glutted with houses for sale by the banks that have foreclosed on them.
Population in the area is down 4,000..

Yep... the republicans have done a wonderful job...
Sure glad the people left in this area finally got the balls to axe the republican yes man congressman that has had this district for the past 20 years... At least it is a start... now if we could axe the chimp and dead eye, we'd really be making progress..