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

[Mr. Big Dog 10,747]

The Reagan Economic Revolution has finally done it! America is no longer Number 1. But I'm sure we just need to cut top tax rates some more to make it all better.

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

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.

Although economic growth in the United States continues to be as strong as in many other countries, or stronger, a small percentage of American households is fully benefiting from it. Median income in Canada pulled into a tie with median United States income in 2010 and has most likely surpassed it since then.

Median incomes in Western European countries still trail those in the United States, but the gap in several — including Britain, the Netherlands and Sweden — is much smaller than it was a decade ago.

Next up, a new flag:

[JohnR! 5,495]

You mean it has not trickled down?

[Mr. Big Dog 10,747]

You mean it has not trickled down?

[JohnR! 5,495]

[Harpa Timsah 13,258]

I found some change on the street once. Was that money falling down on me?

Your graphic is busted, Gegel.

Edited April 23, 2014 by Harpa Timsah

[JohnR! 5,495]

I found some change on the street once. Was that money falling down on me?

Your graphic is busted, Gegel.

Apparently that picture is too old to be in these forums....

[Mr. Big Dog 10,747]

I found some change on the street once. Was that money falling down on me?

Your graphic is busted, Gegel.

It trickled down on you. I guess I was wrong, then.

[Danno 1,228]

Obama drives the economy in the ground and the first impulse is to go back to 1980 to find blame.

The reagan years were so good they even made Clinton look good.

What Obama has done... the fruit of it will be played out for the next decade or so.

Thats just the way it works.

[decocker 7,198]

obama drives the economy into the ground.

:jest: :jest: :jest: :jest: :jest:

[JohnR! 5,495]

Obama drives the economy in the ground and the first impulse is to go back to 1980 to find blame.

Ah, shucks! Ya shouda been here in 2008!

[UncleBeer 244]

Obama drives the economy in the ground and the first impulse is to go back to 1980 to find blame.

+1. Seriously: I thought it was pathetic when the preznit continued to blame his predecessor after 5 years of damage caused by his own policies. You guys reach back 30 odd years to place blame for the current state of the economy.

[decocker 7,198]

What Obama has done... the fruit of it will be played out for the next decade or so.

sooo, does this mean whoever is elected in 2016 gets to blame obama for the economic woes of their term?

obama can't do that no no no.

i really need to start a ticker for the number of times you contradict yourself in your own post.

[Mr. Big Dog 10,747]

Obama drives the economy in the ground and the first impulse is to go back to 1980 to find blame.

The reagan years were so good they even made Clinton look good.

What Obama has done... the fruit of it will be played out for the next decade or so.

Thats just the way it works.

You should endeavor to read and comprehend the material presented before commenting on it, Danno. The decline of Americas middle class is a project that's 30+ years in the making. It started in the 1980's. Coincidentally, that's when Reagonomics started as well. When you look at the three main factors that are at the root of it all: our declining eductation system, declining labor unions and tax policy. We can debate the first but number 2 and 3 are solidly attributable to Reagonomics.

Edited April 23, 2014 by Mr. Big Dog

[SMOKE 1,426]

dear leader & his policies have nothing to do with this.

Edited April 23, 2014 by SMOKE

[We Keep Receipts 9,238]

+1. Seriously: I thought it was pathetic when the preznit continued to blame his predecessor after 5 years of damage caused by his own policies. You guys reach back 30 odd years to place blame for the current state of the economy.

Correct me if I'm wrong, but weren't we in a depression when Obama took the helm? I could have sworn folks were being laid off left and right in 2008. So, is that Obama's fault too? Or, do we skip the years GWB was in office and shift the blame to Clinton?