The average income of American families, after adjusting for inflation, declined 2.3% in 2004 compared with 2001.
The percentage of Americans who owned stocks, either directly or through a mutual fund, fell 3.3 percentage points to 48.6% in 2004, down from 51.9% in 2001.
Stock ownership rates were highest in 2004 among families with higher incomes and families age 55 to 64. Overall median stock holdings fell to $24,300 in 2004.
What does all this tell us. Under the Republicans, the rich got richer and the middle class got squeezed, for their motto is, "Give the most to those that have the most."
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