Steadily worsening income inequality and wealth inequality in the
United States has made the American middle class poorer—it’s no longer the most
affluent middle class in the world.
For example, the after-tax incomes of the Canadian middle class have
surpassed that of their American counterparts.
Lower income families in Canada,
Sweden, Norway, Finland and the Netherlands are better off than those in
America.
The details were compiled by the New York Times, based on income data from LIS, a group that maintains the
Luxembourg Income Study Database.
Median per capita income in the
U. S. has stayed about the same for the last 14 years (after adjustment for
inflation), that is, no real growth.
Here’s how the Times explains three
specific elements of the withering of American middle class affluence:
“First, educational attainment
in the United States has risen far more slowly than in much of the
industrialized world over the last three decades, making it harder for the U.S.
economy to maintain its share of highly skilled, well-paying jobs.
“A second factor is that
companies in the U.S. economy distribute a smaller share of their bounty to the
middle class and poor than similar companies elsewhere.
“Finally, governments in Canada
and Western Europe take more aggressive steps to raise the take-home pay of
low- and middle-income households by redistributing income.”
Our government and our political leaders are not taking care of The
American Dream.
No comments:
Post a Comment