This is a pretty entertaining and good (albeit relying heavily on anecdote to make its point) piece that Drew Carey did on the 'vanishing middle class'. It's about 8 minutes long. The short summary: purchasing power is very high compared to the past, and standard of living that people are benchmarking against for what should be the norm for the middle class has moved upward.
Slow Motion Reality [Maker Update #39]
1 hour ago