"Although political leaders seem unable to define what it means, the idea of the squeezed middle is potentially quite a potent one. Because most of us don’t know how our income compares to the rest of the nation, we assume we are probably in the middle. In fact, a recent YouGov poll for Policy Exchange found that eight out of 10 people believe they are in the middle 40 per cent of earners. Only 2 per cent of people believe they are in the top 30 per cent. So who is really in the middle? After paying all taxes and receiving benefits, the average couple with two children has an income of about £33,500 a year. The average single adult is on £16,000. Are these people in the middle really “squeezed”, and if so, why?"
See the full article on The Daily Telegraph's website