The middle class of American lawyers is hollowing out.
Every year since 1967 the IRS has collected and released data about the tax returns of two different groups of lawyers: solo practitioners and law firm partners.
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Such is the duality of the information age and income inequality. American lawyers used to be able to count on a middle class existence. Now law school is much more of a high stakes gamble.
Some law graduates may become very wealthy indeed, and some will still be middle class, but many more will be saddled with massive debt and little hope for a steady income.
