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Thread: MiddleClass wealth is gone

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    MiddleClass wealth is gone

    All The Wealth The Middle Class Accumulated After 1940 Is Gone

    Here's more proof the middle class is dying.
    The middle-class share of American wealth has been shrinking for the better part of three decades and recently fell to its lowest level since 1940, according to a new study by economists Emmanuel Saez of the University of California, Berkeley, and Gabriel Zucman of the London School of Economics.
    In other words, remember the surge of the great American middle class after World War II? That's all gone, at least by one measure.
    In this case, "middle class" is defined rather expansively as the bottom 90 percent of all Americans. "Wealth" is the total of home equity, stock and bond holdings, pension plans and other assets, minus debt. As such assets are mostly owned by mid- to higher-income households -- and considering most Americans define themselves as "middle-class" -- it seems reasonable to use the bottom 90 percent as a proxy for the "middle class."

    http://www.huffingtonpost.com/2014/1...n_6014874.html
    LETS GO BRANDON
    F Joe Biden

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    Decades of continuous monetary inflation tends to have that effect.
    Power always thinks it has a great soul, and vast views, beyond the comprehension of the weak. And that it is doing God service when it is violating all His laws.
    --John Adams

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    I'm totally surprised ... you mean trickle down only flows UP?

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    Quote Originally Posted by Ethereal View Post
    Decades of continuous monetary inflation tends to have that effect.
    Plus the steadfast refusal to raise the min wage that is 20 yrs behind and outsourcing most of the jobs that min wage workers used to aspire to get to china to improve the quality of life of communist chinese
    LETS GO BRANDON
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    my first job was minimum wage in 1969-$1.65

    in today's dollars, that's $10.60

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    Quote Originally Posted by Common View Post
    Plus the steadfast refusal to raise the min wage that is 20 yrs behind and outsourcing most of the jobs that min wage workers used to aspire to get to china to improve the quality of life of communist chinese
    Raising the minimum wage has increased unemployment, if anything.
    Power always thinks it has a great soul, and vast views, beyond the comprehension of the weak. And that it is doing God service when it is violating all His laws.
    --John Adams

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    Captain Obvious (10-22-2014),Peter1469 (10-22-2014)

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    Quote Originally Posted by Common View Post
    Plus the steadfast refusal to raise the min wage that is 20 yrs behind and outsourcing most of the jobs that min wage workers used to aspire to get to china to improve the quality of life of communist chinese
    Good lord, the minimum wage earners are not generally speaking middle class.

    "A full-time minimum wage employee earns $15,080 annually." (source)

    Lower middle class begins around twice that, $32,500, on up to about $100,000. (source)

    Your rants are factless.
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    Quote Originally Posted by Chris View Post
    Good lord, the minimum wage earners are not generally speaking middle class.

    "A full-time minimum wage employee earns $15,080 annually." (source)

    Lower middle class begins around twice that, $32,500, on up to about $100,000. (source)

    Your rants are factless.
    Exactly.

    Middle class is not synonymous with minimum wage, entry level is.

    Want minimum class? Get a degree and/or acquire a skill and go earn it, like everyone else in the middle class.
    my junk is ugly

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    The middle class is dying for a number of reasons, the largest of them IMO is that we've chosen to let class govern ourselves.
    my junk is ugly

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    This may sound kinda like I'm wearing a tin foil hat, but...I have wondered if the aging of the Baby Boomer generation has some effect on the declining middle class. Our goal was to make life easier for our children, which we did. Unfortunately, a lot of those children decided they were entitled to our continued support and have not made a lot of effort on their own behalf. comments?

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