"This decreasing relationship between fertility and income is well known to economists and demographers alike. In addition, it holds true over time: Rich countries, such as the U.S., have experienced a remarkable decline in their fertility rate as they became rich. Also, the relationship holds at the individual level, as rich families tend to have fewer children than poor families." from: https://www.stlouisfed.org/on-the-economy/2016/december/link...