I guess the logical thing to do in this situation is cut benefits to the people and cut taxes on the wealthy right? :roll:
Big Lie: America Doesn't Have #1 Richest Middle-Class in the World...We're Ranked 27th! | Alternet
Bet the old radical Les Leopold gets the tingles running.
Who cares what a biased fool like Les wants people to believe.
I think the Left is shooting for the #1 richest lower-class, anyways.I guess the logical thing to do in this situation is cut benefits to the people and cut taxes on the wealthy right? :roll:
Big Lie: America Doesn't Have #1 Richest Middle-Class in the World...We're Ranked 27th! | Alternet
The report that is providing that info comes from Credit Suisse, I believe.
Ok.
Regardless, Les decides that median income equates to middle class, and uses a gross dollar amount comparison?
Interesting point. Unlike the average/mean in a skewed distribution like income or wealth, the median demonstrates the true "50% at or above, 50% at or below" point. We generally assume that the people at the exact middle would be middle class, but perhaps it wouldn't mean that, especially if there is an over-representation of people who are in the lower class income levels and an under-representation of people in the upper class income levels. To explain, in a nation where 51% of the people are at or below the poverty line, the median income would always be in the "lower class".
I guess the logical thing to do in this situation is cut benefits to the people and cut taxes on the wealthy right? :roll:
Big Lie: America Doesn't Have #1 Richest Middle-Class in the World...We're Ranked 27th! | Alternet
Funny, I don't see you stating how the middle class is defined in dollar amounts.Exactly. Also, there is no comparison of purchasing power of the dollars presented. It may very well be in in the Credit Suisse analysis, but I didn't see it in the linked article.
To put raw dollars on a graph and also arbitrarily claim median amounts equal middle class serves no purpose other than to try and push forward Leo's well known agenda.
Funny, I don't see you stating how the middle class is defined in dollar amounts.
The middle 20% of income earners in the US is defined as those making between $32K and $55K, so it seems the Global Wage Report which is linked to in the article is correct. The median income does describe middle class.
Of course this quibbling about terms avoids the main points, that the MC has fallen behind due to compensation not commensurate with productivity and that financializaion has allowed the upper class to make even greater gains than what they have captured via wages.
The axiom that it takes money to make money is becoming even stronger.
Horatio Alger is dead and buried, meritocracy is crumbling, if you are from a wealthy family, a degree is not necessary and if you are from the lower class, a degree means little:
RIP, American Dream? Why It's So Hard for the Poor to Get Ahead Today - Matthew O'Brien - The Atlantic
His Chart appears to be from the Global Wealth Report, Google is your friend.Funny, I don't see how Leo determined what was middle class, other than to pick a middle dollar amount.
Um, I think his disdain is over the fact that the middle class in the US has seen no/tiny gains since 1979.Therefore, his disdain for the United States continues through his use of data that has no relevancy.
If you mean taxation changes as public policy, I agree, it has allowed the top to hold on to greater gains, and as I showed you in the Detroit discussion, our lack of industrial policy has allowed foreign/international corps to destroy our industrial base.I wouldn't argue the middle class hasn't been impacted. When public policy and regulatory incrementalism crushes our manufacturing base, it's no wonder the middle class gets hurt.
It was labor organizations that created the US middle class. It has been their weakening that directly correlates to the middle class declines.Until we create a pro-business attitude in the United States again, the middle class will continue to suffer.
When wages have not kept up with productivity, saving is a luxury."Wealth is measured by the total sum of all our assets (homes, bank accounts, stocks, bonds etc.) minus our liabilities (outstanding loans and other debts). "
we, as a nation, have forsaken fiscal responsibility. People that fall into middle class for wage earnings simply live too lavish of a lifestyle compared to nation like Australia. We live in the now, and don't save properly.
When wages have not kept up with productivity, saving is a luxury.
large screen tv's, cruises, fancy cars and clothes are also luxuries.
The American middle class lives at a completely different level then peers in nations like Australia. the culture and mentality is completely different.
Apparently you have some great amount of knowledge about the middle class in Australia....I don't. As far as your "luxury" items, Camary's are not luxury, $600 wide screens are not "luxury" in 2013. "Fancy clothes"??? WTF!large screen tv's, cruises, fancy cars and clothes are also luxuries.
The American middle class lives at a completely different level then peers in nations like Australia. the culture and mentality is completely different.
His Chart appears to be from the Global Wealth Report, Google is your friend.
Um, I think his disdain is over the fact that the middle class in the US has seen no/tiny gains since 1979.
If you mean taxation changes as public policy, I agree, it has allowed the top to hold on to greater gains, and as I showed you in the Detroit discussion, our lack of industrial policy has allowed foreign/international corps to destroy our industrial base.
It was labor organizations that created the US middle class. It has been their weakening that directly correlates to the middle class declines.
Apparently you have some great amount of knowledge about the middle class in Australia....I don't. As far as your "luxury" items, Camary's are not luxury, $600 wide screens are not "luxury" in 2013. "Fancy clothes"??? WTF!
California is 17th in total taxes, the cost of living is commensurate with the desirability of the location.I have no interest in grade school snark. Find someone else to play tether ball with.
The state with the highest taxation in the United States has some of the highest unemployment in the nation as well.
30% of the manufacturing jobs have left the state as well.
Your meme's are crushed under the reality of liberal/progressive run California.
Sorry, but you can't hide the facts when 1 out of 8 people living in this country have to live with them.
Yawn.I wouldn't say great knowledge, but I have read how they are more frugal and fiscally responsible.
they hold onto cars longer. They spend less on clothes and entertainment budgets (but their homes are slightly larger)
Yawn.
California is 17th in total taxes, the cost of living is commensurate with the desirability of the location.
I think it is so funny that you want to tangent away from the OP's topic.....to trash the state you live (and I lived) in.
Weird.
I'm sorry, where did you even mention anything about the wages of the US middle class? You seemed focused on spending.sorry to bother you with the minutia of why the thread premise is idiotic.
I'm sorry, where did you even mention anything about the wages of the US middle class? You seemed focused on spending.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?