Jump to content
Washington Football Team Logo
Extremeskins

Nytimes.com: The American Middle Class Is No Longer the World’s Richest


Destino

Recommended Posts

http://www.nytimes.com/2014/04/23/upshot/the-american-middle-class-is-no-longer-the-worlds-richest.html?hp&_r=0

The American middle class, long the most affluent in the world, has lost that distinction.

While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.

After-tax middle-class incomes in Canada — substantially behind in 2000 — now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.

The numbers, based on surveys conducted over the past 35 years, offer some of the most detailed publicly available comparisons for different income groups in different countries over time. They suggest that most American families are paying a steep price for high and rising income inequality.

Highly, oppressively, tyrannically taxed Europe and Canada is seeing growth in the middle and lower class after tax income? Impossible. That's not how it works. The only way to grow is to cut taxes, especially for the wealthy job creators.

Link to comment
Share on other sites

Ironically, many of the poor and middle-class in this country cling strongly to the idea that trickle down economics is the only system that is fair and equitable.  They keep the rich, trickle down politicians in power.  I don't feel sorry for them.

 

The thing with that is that poor people don't see themselves as poor, they see themselves of middle class temporarily down on their luck. And middle class don't see themselves as middle class, they see themselves as not-quite-rich-yet. And all of them hate the idea of taxes, so the thought of having a progressive tax structure if appalling because the rich people have to pay more. "But, that's terrible! One day that will be me!" 

 

All the while the system is being further rigged for the wealthiest and social mobility is being crapped on. Education used to be the way up the ladder, but when upper class people figured that out they turned it into a business, increased the cost of college by 20x and made sure to make widely available the student loans that would keep these fools in debt forever and devalue their degree by flooding the market with millions of other people with the same degrees.  /rant

Link to comment
Share on other sites

Thanks Obama. (and I'm only halfway joking)

Nothing will change in this country as long as the super rich have such access and influence on the people who make the laws. Nothing will change as long as the people who make laws are in power to serve themselves first.

Link to comment
Share on other sites

Look, I do not and will not ever, want to move to Texas. The summers are really hot. It barely snows. There are no mountains and barely any trees. There's Mexican drug lords along the southern boarder and the interior is filled with sports fans of teams I absolutely abhor.

Me and Texas aren't congruent. No thanks.

Link to comment
Share on other sites

Thanks Obama. (and I'm only halfway joking)

Nothing will change in this country as long as the super rich have such access and influence on the people who make the laws. Nothing will change as long as the people who make laws are in power to serve themselves first.

the entire history of this country, the rich have always ben in control. The only way to change things would be a Dark Knight Rises type of revolt, but Batman would always save the day.

I will say, being able to buy a 7 bedroom home on 5 acres for like $3.50 is pretty nice.

:lol:
Link to comment
Share on other sites

My step-dad is Swedish and we go to Stockholm regularly and visit with his kids and such. No, this isn't some America-bashing post—but their quality of life is kinda awesome. Very similar to an American middle-class existence in many ways but with some great aspects. I'm sure we have aspects that they would like.

 

-American Politicians, the media, etc pay a lot of lip service to being "family-centric" but policies as simple as maternity leave AND, the nonexistent paternity, (12 months at 80% salary) leave are norms for them. Are they the world's largest economy? No, but they are also not Somalia or Greece for that matter. Their economy is solid and very few want for things. 

 

-Middle class is (generally) middle class, not the segmentation of American Middle Class-dom (lower, middle, upper)

 

-They get great health care (universal, single payer) albeit with the limitations that come along with that system. In general though, they are healthier so consume less health care. 

 

Are they the richest? Probably not, but richest doesn't really matter if it doesn't buy you great quality of life. 

Link to comment
Share on other sites

As soon as my girlfriend is done with her masters, we both intend to move out of the US. Luckily we are both in highly skilled careers that have a high demand all over the world. It's a shame but we aren't going to be the only people in our fields who will look outside the US in a few years.

Link to comment
Share on other sites

My step-dad is Swedish and we go to Stockholm regularly and visit with his kids and such. No, this isn't some America-bashing post—but their quality of life is kinda awesome. Very similar to an American middle-class existence in many ways but with some great aspects. I'm sure we have aspects that they would like.

 

-American Politicians, the media, etc pay a lot of lip service to being "family-centric" but policies as simple as maternity leave AND, the nonexistent paternity, (12 months at 80% salary) leave are norms for them. Are they the world's largest economy? No, but they are also not Somalia or Greece for that matter. Their economy is solid and very few want for things. 

 

-Middle class is (generally) middle class, not the segmentation of American Middle Class-dom (lower, middle, upper)

 

-They get great health care (universal, single payer) albeit with the limitations that come along with that system. In general though, they are healthier so consume less health care. 

 

Are they the richest? Probably not, but richest doesn't really matter if it doesn't buy you great quality of life. 

Americans have this obsession with "best".

 

We need to be the "best" economy. We need to have the best healthcare system. We need to have THE president who sets the tone and the example for the whole world.

 

Meanwhile, European countries are perfecting their systems by understanding that they don't need to show the world how it's done, they just need to keep their people employed and happy.

Link to comment
Share on other sites

Americans have this obsession with "best".

 

We need to be the "best" economy. We need to have the best healthcare system. We need to have THE president who sets the tone and the example for the whole world.

 

Meanwhile, European countries are perfecting their systems by understanding that they don't need to show the world how it's done, they just need to keep their people employed and happy.

American Exceptionalism is a pain in the ass. 

 

Another thing to analyze is paper "wealth" vs actual wealth. The lives of middle class Americans are highly leveraged because of insane amounts of debt. Between mortgage, auto, student loans, revolving credit, HELOCs, and low savings rates. So we may make more in terms of income but not nearly keeping as much.

 

There's also this illusion that a socialized state, like Sweden, pays more in taxes with no discernible benefit. But it includes schooling and health care and child care—a lot of the stuff that middle class America pays for out of pocket. I think it comes out pretty even.

 

The scandinavian countries are a nice case study and there are caveats in direct comparison. Population size to start with. Norway is flush with oil money. Finland has one of the best public school systems in the world. 

Link to comment
Share on other sites

As soon as my girlfriend is done with her masters, we both intend to move out of the US. Luckily we are both in highly skilled careers that have a high demand all over the world. It's a shame but we aren't going to be the only people in our fields who will look outside the US in a few years.

 

I fully expect that by the time my current preschoolers are of college age, it will be very much the done thing -- not just an interesting exception -- to look far beyond American borders for an affordable, high quality, useful college education and the attendant "thinking person" jobs it enables.  One or both of the kids will be outta here.

 

Should that come to pass, I won't blame them one bit.

Link to comment
Share on other sites

I fully expect that by the time my current preschoolers are of college age, it will be very much the done thing -- not just an interesting exception -- to look far beyond American borders for an affordable, high quality, useful college education and the attendant "thinking person" jobs it enables.  One or both of the kids will be outta here.

 

Should that come to pass, I won't blame them one bit.

As someone who is a first generation immigrant, it'd be VERY interesting to feel like we'd be (or my kids) first generation immigrants again to another country. Not saying it can't happen. Just interesting. 

Link to comment
Share on other sites

As someone who is a first generation immigrant, it'd be VERY interesting to feel like we'd be (or my kids) first generation immigrants again to another country. Not saying it can't happen. Just interesting. 

 

It's interesting to me too, as someone with centuries-long ancestral ties to this country... I simply think of it as "my kid is moving to another country for education and job prospects."  But in that country, BOOM:  "This kid's an immigrant."

 

Very illuminating to think about it from both sides.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...