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

[kpete]

Middle class in socialist hellholes is doing far better than the American middle class is doing under laissez-faire.

..............

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.




the rest:
http://www.nytimes.com/2014/04/23/upshot/the-american-middle-class-is-no-longer-the-worlds-richest.html

[astrophuss42]

1. Gosh I hope this gets better and not worse. Doubt it though.

There are a lot of Hoovervilles in my area and they're starting to catch fire under the bridges.

[enid602]

2. Canada

The Canadian Dollar has lost 30% of its value since the article, though. They import a lot. Winter vegetables are outrageous there, now.