Skip to comments.Five myths about the middle class
Posted on 08/06/2012 5:49:37 AM PDT by Sir Napsalot
Both President Obama and Mitt Romney say theyll support it. Many Americans say theyre in it. And virtually everyone says something must be done to help it. Its the American middle class, and its the biggest talking point of the 2012 election and one of the most misunderstood.
1. Todays middle-class Americans are worse off than their parents.
The standard of living for Americans in the broad middle of the income ladder households with incomes higher than the bottom 20 percent and lower than the top 20 percent hasnt stagnated or worsened in the past generation. It has improved. ......
Moreover, income changes alone dont capture the enhanced quality of life that stems from greater access to information and entertainment through personal computers, smartphones, the Internet and cable TV; advances in medical care such as MRIs and new surgical techniques; and more choices for all kinds of goods and services.
2. All the middle class needs is a return to solid economic growth.
During the three decades after World War II, the U.S. economy grew rapidly, and so did the incomes of middle-class households. So, if we just get our economy growing at a decent clip, will all be well for the middle class?
Sadly, thats wishful thinking. Since the 1970s, the American economy has continued to grow fairly quickly, yet the middle class has seen a relatively small gain in income. ..... (Please read the whole article)
(Excerpt) Read more at washingtonpost.com ...
3. Once you reach the middle class, more income doesnt make you any happier.
4. Almost all Americans think theyre middle class.
5. In the long run, the decline of middle-class living standards is inevitable.
Author Lane Kenworthy is a professor of sociology and political science at the University of Arizona. He studies the causes and consequences of poverty, inequality, mobility, employment, economic growth, social policy, taxes, and public opinion in affluent countries, and the author of Progress for the Poor, Jobs with Equality (OUP 2008), Egalitarian Capitalism, In Search of National Economic Success, and articles in various social science journals.
And sadly he falls into the same trap - More and better education, explore new ways for public policy(ies)....
The author is a blithering idiot.
Rule #6: There is no Rule Six.
Rule #7: No Poofters!
Sounds like more “their share of the pie has stagnated so they need big government and/or unions to claw more away from the wealthy” propaganda to me.
and that mentality circles around back to my original comment.
There is no way the West’s middle class can survive globalism. To compete for jobs with India and China, we have to become India and China.
Our politicans and globalist business people think this is fine and dandy.
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