The American Middle Class Is No Longer the World’s Richest; Middle class Poorer than Canada's and Sh
62 replies, posted
[url]http://www.nytimes.com/2014/04/23/upshot/the-american-middle-class-is-no-longer-the-worlds-richest.html?_r=0[/url]
[QUOTE]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.
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.
The findings are striking because the most commonly cited economic statistics — such as per capita gross domestic product — continue to show that the United States has maintained its lead as the world’s richest large country. But those numbers are averages, which do not capture the distribution of income. [/QUOTE]
[IMG]http://facepunch.com/fp/flags/ca.png[/IMG]
Can we finally admit that capitalism is not the solution to anything and everything?
[QUOTE=Used Car Salesman;44619001]Can we finally admit that capitalism is not the solution to anything and everything?[/QUOTE]It fails for some parts but... everything?
I might move to Canada.
[url]https://www.youtube.com/watch?v=nLfurFpZHFU[/url]
[QUOTE=Used Car Salesman;44619001]Can we finally admit that capitalism is not the solution[/QUOTE]
Just wait for the trickle.
[QUOTE=Used Car Salesman;44619001]Can we finally admit that capitalism is not the solution to anything and everything?[/QUOTE]
this post doesn't even make any sense
I've been planning to move for a while now, guess this just cements it.
Referring to capitalism in America.
The problem lies with those in power who used and abused the system. For their own benefit or the benefit of a select few. I'm sure we all know who I'm referring to.
[QUOTE=Aide;44619041]
The problem lies with those in power who used and abused the system. For their own benefit or the benefit of a select few. I'm sure we all know who I'm referring to.[/QUOTE]
Fuck welfare recipients. Digging the country into a hole.
Man, to think that shrinking peoples incomes after 2008 by about half, then not raising them, would have an effect?
Maybe this'll open politicians eyes to start getting to work
No it won't....
If you believe in the whole thing where human workers are gradually going to be rendered obsolete by increased automation that follows trends forcing most people into crushing and abject poverty and dependence on social programs, then this is a trend that will continue until we have the moon over Clocktown and the entire system breaks apart because people refused to act.
[QUOTE=Rangergxi;44619027]Just wait for the trickle.[/QUOTE]
[t]http://upload.wikimedia.org/wikipedia/commons/0/03/Pitch_drop_experiment_with_John_Mainstone.jpg[/t]
[I]"...any minute now..."[/I]
[QUOTE=Used Car Salesman;44619001]Can we finally admit that capitalism is not the solution to anything and everything?[/QUOTE]
Capitalism is perfectly fine, it just needs a touch of socialism to keep it from getting out of control.
[QUOTE=Grimhound;44619094]If you believe in the whole thing where human workers are gradually going to be rendered obsolete by increased automation that follows trends forcing most people into crushing and abject poverty and dependence on social programs, then this is a trend that will continue [b]until we have the moon over Clocktown[/b] and the entire system breaks apart because people refused to act.[/QUOTE]
is this a majora's mask reference and what is it doing here?
Its not like the middle class getting smaller has affected us adversely in the past or anything...
*cough*Great Depression*cough*
[QUOTE=Used Car Salesman;44619001]Can we finally admit that capitalism is not the solution to anything and everything?[/QUOTE]
I dunno, our implementation of the market economy in Australia is doing well.
[QUOTE=Used Car Salesman;44619001]Can we finally admit that capitalism is not the solution to anything and everything?[/QUOTE]
Capitalism is the only thing that works.
[QUOTE=Rangergxi;44619050]Fuck welfare recipients. Digging the country into a hole.[/QUOTE]
Yeah, fuck me. Fuck me because work only guarantees me 12 hours every week (I usually end up working 30, but I need a safety net) and I study full-time at uni, and because of the latter I receive means-tested rent assistance to help me with my $350 of costs per week.
Fuck those welfare recipients.
[QUOTE=Aide;44619041] For their own benefit or the benefit of a select few.[/QUOTE]
[QUOTE=Antdawg;44619775]
Yeah, fuck me.[/QUOTE]
Its obvious that he's talking about the ultra rich. Shame that people are actually agreeing with the joke.
Well the employment problem is not going to fix itself since there literally are not enough jobs for everyone and it's gonna get far worse on that front. So i'll just have to hope that social safety nets everywhere are in fine working order.
[QUOTE=Reshy;44619040]I've been planning to move for a while now, guess this just cements it.[/QUOTE]
Come to Straya. Chicks love American dudes, minimum wage for a 20 year old is around $17 per hour, you get 1.2x if work calls you in for extra shifts, 1.5x for working on Sundays, 2.5x for working on holidays, we actually have a decent healthcare system where you pay a 1.5% levy on your earnings to receive massively subsidised healthcare costs, don't have to start paying back uni debt until you finish at uni and earn income above a certain threshold, sweet RWD Ford Falcons and Holden Commodores, nice beaches and I could go on and on.
[QUOTE=Antdawg;44619822]Come to Straya. Chicks love American dudes, minimum wage for a 20 year old is around $17 per hour, you get 1.2x if work calls you in for extra shifts, 1.5x for working on Sundays, 2.5x for working on holidays, we actually have a decent healthcare system where you pay a 1.5% levy on your earnings to receive massively subsidised healthcare costs, don't have to start paying back uni debt until you finish at uni and earn income above a certain threshold, sweet RWD Ford Falcons and Holden Commodores, nice beaches and I could go on and on.[/QUOTE]
Or he could come to Canada. We have hot French chicks, poutine, and Tim Horton's, as well as subsidized healthcare, and things cost less here than Ausland.
You can point and laugh and say "Haha, silly america" all you want, but in reality, it fucking sucks. I'm lucky since my dad made enough money from his job and we're economically sound (for now), but the friends and loved ones I have aren't as lucky. The city I live in is quite literally falling apart, as there's not enough money to fix the roads or pay government workers, and the people here are suffering for it.
RIP United States of China. Because that's where all our jobs went. Its impossible for the common man like me to just find a blue collar job. I have to wear a suit and be a "team player" "fast paced" all while creating a fast, fun experience that inspires guest loyalty.
I just cant deal with that. Gimme a fucking wrench and let me fix/build something.
[QUOTE=Used Car Salesman;44619001]Can we finally admit that capitalism is not the solution to anything and everything?[/QUOTE]
more like trickledown economics doesn't work and socialist policies don't always destroy the middle class
[QUOTE=Sableye;44619978]more like trickledown economics doesn't work and socialist policies don't always destroy the middle class[/QUOTE]
More like when you place regulations on employers, you should also place equalizing regulations on trade to offset the difference, else you will lose middle class jobs to other places where these regulations aren't in place. Welcome to the global market.
[QUOTE=Silence I Kill You;44620041]More like when you place regulations on employers, you should also place equalizing regulations on trade to offset the difference, else you will lose middle class jobs to other places where these regulations aren't in place. Welcome to the global market.[/QUOTE]
Cutting people back on salary then putting the savings onto the executives and the top also has to do with it.
The pay has massively shifted from the workers to the top 100 in the company in the past few years. Jumping hundreds of percentages every year. Bonuses not existing. Great stuff.
[QUOTE=Paul McCartney;44620061]Cutting people back on salary then putting the savings onto the executives and the top also has to do with it.
The pay has massively shifted from the workers to the top 100 in the company in the past few years. Jumping hundreds of percentages every year. Bonuses not existing. Great stuff.[/QUOTE]
Even if you didn't have that going on, there are still no jobs available. So even if you did force a "waterfall economics" of sorts, you STILL wouldn't have the prosperity that you're expecting due to lack of jobs. Shifting of wealth won't solve problems like you think they will if there are no jobs for the wealth to come down through....
[QUOTE=Silence I Kill You;44620196]Even if you didn't have that going on, there are still no jobs available. So even if you did force a "waterfall economics" of sorts, you STILL wouldn't have the prosperity that you're expecting due to lack of jobs. Shifting of wealth won't solve problems like you think they will if there are no jobs for the wealth to come down through....[/QUOTE]
Competing with the labor practices of India and China?
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