The American Middle Class Is No Longer the World’s Richest

New York Times ^ | April 22, 2014 | David Leonhardt and Kevin Quealy

[Olog-hai]

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. …

[Olog-hai]

No, “income inequality” has nothing to do with it. The EUSSR is rife with so-called “income inequality” all over the place, just for one example.

[henkster]

The best way to stop poverty is to stop subsidizing it. The best way to make the middle class more prosperous is to stop repressing it.

It really seems self-evident, doesn’t it?

[PGR88]

Our middle-class is being raped by our government and Federal Reserve, and their debt-laden social-engineering programs, zero interest rates, and inflation.

[MNDude]

I bet we have the wealthiest people with no jobs though.