What Elizabeth Warren doesn't tell you about the middle class

Senator Elizabeth Warren said on New Year's Eve: "The middle class is being hollowed out."




Sounds scary! But she didn't mention that the "middle class" is shrinking because they're getting richer, not poorer. They're moving up, yet Warren makes it sound like they're getting crushed. Look at this chart (explained here):

UPDATE: Some commenters on Facebook have taken issue with those statistics. I've responded over there. The truth is certainly more complicated than my glib post made it seem.