Canadian middle class passes American- Thanks Reaganism...

[francoHFW]

Franco you have hit a new low. You are not worthy to polish Reagan's spit can.

Next week you will be posting how Republicans can't win elections. How since Bush SR. Democrats have held the presidency for 13 of the 21 years. How the democrats control the Senate. But with democrats controlling the government for the last 7 years you wish to blame the man whose policies ushered in the greatest peacetime expansion of the economy in history. Yet you fail to mention the utter damage that Clinton did with his "free" trade agreements. It was predicted and is coming true. And you obviously can't realize or ignore the fact that you can't flood the country with low educated poor people just to get votes and not have it effect the economy. No you ignore all of that and blame the last president that made a person feel good to be an American. A man that put America first all the while ignoring the damage the Kenyan in the WH has done to the country.

You are a sad little man franco.

Reagan was a demented disaster- tripled the debt and set the country on the road to ruin. Pubs forgot to invest in training, the other half of free trade- Everyone knew the labor intensive manufacturing would leave...



''The Demise of the American Middle Class In Numbers.

Over the past 60 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:

1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.

Over the past 63 years worker productivity has grown by 2.0% per year.

But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):

1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%

A 13% drop since 1980

2. THE TOP 10% GET A LARGER SHARE.

Share of National Income going to Top 10%:

1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%

An increase of 16% since Reagan.

3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.

The savings Rose up to Reagan and fell during and after.

1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)

A 12.3% drop after Reagan.

4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.

Household Debt as percentage of GDP:

1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%

A 45% increase after 1980.

5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.

Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:

1980 = 10%
2003 = 56%

A 5.6 times increase.

6. AND THE AMERICAN DREAM IS GONE.

The Probably of Moving Up from the Bottom 40% to the Top 40%:

1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%

A 10% Decrease.

Links:

1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 = https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 = Clipboard01.jpg (image)
2 – Congratulations to Emmanuel Saez | The White House
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = http://www.bea.gov/national/nipaweb...able=58&Freq=Qtr&FirstYear=2008&LastYear=2010
4 = http://www.prudentbear.com/index.php/household-sector-debt-of-gdp
4 = FRB: Z.1 Release--Financial Accounts of the United States--March 6, 2014
5/6 = Wealth And Inequality In America - Business Insider

Overview = http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts''
''

 

[kiwiman127]

Yeah, I'll concur that it isn't just Reagan's fault for the plight of the middle class. I don't recall Reagan having to do much with flat wages or any other president. President don't set wages, they don't ship jobs offshore, they don't replace workers with automation.
But some nimrods here are so clueless about the major effect of a weak middle class has on the US economy, well it's just unbelievable.
I'll put it in simple terms.
Over 70% of the US economy is driven by consumer spending, the middle class is the biggest demographic of the consumer class. Since wage growth has gone flat (in Real Dollars, working wage earners have seen a little over 6% growth in the last three decades), every recession the US has suffered has taken longer to recover. One of the biggest reasons our last recession took so long to correct itself was the consumer wasn't spending money. When wage growth is flat, expendable income shrinks.
Below is a graph showing that since the 80s, recession have taken longer than previous recessions when the working class had real growth.

 

[DiamondDave]

More winger links by francotroll.. priceless

 

[thereisnospoon]

According to a New York Times report, the rich in the US are getting richer, but the poor and middle classes are falling behind some of their Western peers.

"Middle-class incomes in Canada - substantially behind in 2000 - now appear to be higher than in the United States," David Leonhardt and Kevin Quealy write. "The poor in much of Europe earn more than poor Americans."

The UK median income is still behind that of the US, but it's catching up fast - a 19.7% increase since 2000. This is the same increase as Canada's, whereas the US number was up by only 0.3%. (It's worth noting that Germany's middle class is also stagnating - at 1.4%.)

The Times reporters based their conclusions on a survey of household incomes in about 20 countries over the course of 35 years, taking into account inflation, differences in taxes, government benefits and cost of living in different locations.

"With a big share of recent income gains in this country flowing to a relatively small slice of high-earning households, most Americans are not keeping pace with their counterparts around the world," they write.

The reporters point to three reasons why all but the wealthiest American may be falling behind:

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 American economy to maintain its share of highly skilled, well-paying jobs…

A second factor is that companies in the United States distribute a smaller share of the bounty to the middle class and poor than similar countries 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.

The struggle for middle- and lower-class Americans is reflected in public opinion polls, the reporters write, which generally show greater dissatisfaction with their government than in other Western nations.

BBC News - Canada passes US in middle-class wealth

Could we PLEASE have the rich pay their fair share so we can invest in America and Americans? This is getting ridiculous, hater dupes. See sig pp 1...

Class envy troll thread...

Well somebody has been holding down wage growth for middle class over three decades and that's despite record productivity.
It seems there is an ideology who could give a shit about the middle class. The middle class has every right to be pissed and it isn't class envy!
It seems just about every economist agrees, the middle class has severely been weakened.

Oh? How so?.
And please spare me with income inequality and wage stagnation. And most of all, stow the living wage.
ON the latter, there is a chart which was released by a Penn State study which for example indicates a living wage of $33 per hour for a family of 4 living in Los Angeles County.
Based on that, they say a guy working as a convenience store clerk should be paid that wage for him to support a wife and two kids.
That's just not realistic.

 

[Dot Com]

According to a New York Times report, the rich in the US are getting richer, but the poor and middle classes are falling behind some of their Western peers.

"Middle-class incomes in Canada - substantially behind in 2000 - now appear to be higher than in the United States," David Leonhardt and Kevin Quealy write. "The poor in much of Europe earn more than poor Americans."

The UK median income is still behind that of the US, but it's catching up fast - a 19.7% increase since 2000. This is the same increase as Canada's, whereas the US number was up by only 0.3%. (It's worth noting that Germany's middle class is also stagnating - at 1.4%.)

The Times reporters based their conclusions on a survey of household incomes in about 20 countries over the course of 35 years, taking into account inflation, differences in taxes, government benefits and cost of living in different locations.

"With a big share of recent income gains in this country flowing to a relatively small slice of high-earning households, most Americans are not keeping pace with their counterparts around the world," they write.

The reporters point to three reasons why all but the wealthiest American may be falling behind:

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 American economy to maintain its share of highly skilled, well-paying jobs…

A second factor is that companies in the United States distribute a smaller share of the bounty to the middle class and poor than similar countries 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.

The struggle for middle- and lower-class Americans is reflected in public opinion polls, the reporters write, which generally show greater dissatisfaction with their government than in other Western nations.

BBC News - Canada passes US in middle-class wealth

Could we PLEASE have the rich pay their fair share so we can invest in America and Americans? This is getting ridiculous, hater dupes. See sig pp 1...

Reagan and his deregulation really shafted the midlle-class but good

 

[LogikAndReazon]

Ahhhh another pussified fair sharer......best to have an african american marxist community organizer and his lackeys decide who the truly deserving are........ Lol

 

[thereisnospoon]

The middle class must need more civil servant jobs with collective bargaining "rights"...lol

Thanks for making my point.

THAT is your point?
More government employment?

 

[kiwiman127]

Class envy troll thread...

Well somebody has been holding down wage growth for middle class over three decades and that's despite record productivity.
It seems there is an ideology who could give a shit about the middle class. The middle class has every right to be pissed and it isn't class envy!
It seems just about every economist agrees, the middle class has severely been weakened.

Oh? How so?.
And please spare me with income inequality and wage stagnation. And most of all, stow the living wage.
ON the latter, there is a chart which was released by a Penn State study which for example indicates a living wage of $33 per hour for a family of 4 living in Los Angeles County.
Based on that, they say a guy working as a convenience store clerk should be paid that wage for him to support a wife and two kids.
That's just not realistic.

I agree! $33 is out of line.
I simply pointing out what about every economist agrees on, the middle class has been severely weaken because of flat wage growth. While the US's middle class is weakening other wealthy nation's middle classes are strong. The US didn't exactly set the pace the wealthy nations in regards of recovering the the world wide recession, did we? Our middle class is too weak? That's a fact. If you deny that, you seriously need to do a light research and use non-biased resources. Talking points typically aren't factual. Try The Economist as an example.

 

[Ernie S.]

According to a New York Times report, the rich in the US are getting richer, but the poor and middle classes are falling behind some of their Western peers.

"Middle-class incomes in Canada - substantially behind in 2000 - now appear to be higher than in the United States," David Leonhardt and Kevin Quealy write. "The poor in much of Europe earn more than poor Americans."

The UK median income is still behind that of the US, but it's catching up fast - a 19.7% increase since 2000. This is the same increase as Canada's, whereas the US number was up by only 0.3%. (It's worth noting that Germany's middle class is also stagnating - at 1.4%.)

The Times reporters based their conclusions on a survey of household incomes in about 20 countries over the course of 35 years, taking into account inflation, differences in taxes, government benefits and cost of living in different locations.

"With a big share of recent income gains in this country flowing to a relatively small slice of high-earning households, most Americans are not keeping pace with their counterparts around the world," they write.

The reporters point to three reasons why all but the wealthiest American may be falling behind:

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 American economy to maintain its share of highly skilled, well-paying jobs…

A second factor is that companies in the United States distribute a smaller share of the bounty to the middle class and poor than similar countries 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.

The struggle for middle- and lower-class Americans is reflected in public opinion polls, the reporters write, which generally show greater dissatisfaction with their government than in other Western nations.

BBC News - Canada passes US in middle-class wealth

Could we PLEASE have the rich pay their fair share so we can invest in America and Americans? This is getting ridiculous, hater dupes. See sig pp 1...

In case you haven't noticed, Ronald Wilson Reagan left office over 25 years ago and has been dead nearly 10 years.

We have a new President. He took office over 5 years ago. Perhaps you should spend your time in the "Current Events" forum.
You're dismissed.

 

[thereisnospoon]

Umm, Reagan died in 2004 and his last day in office was 1/20/89. Nobody ever accused George H. Bush of being a Reaganite but the economy stayed stable for twenty freaking years until democrats got the bright idea that they would force banks to make bad loans. Democrat Barney Frank had the responsibility for Fannie Mae which was top heavy with left wing political appointees like Jamie Garelick but the economy was still stable until Frank lied to America and Fannie collapsed. Barry Hussein has been in office for about six years. When is the radical left going to give him credit for the mess?

What a pile of crappe lol. F+F went from 75 to 25% of the real estate market in 2003 and Boooshie regulators allowed junk mortgages to be rated A+, bundled, insured and sold around the world, Rush/Fox/Beckbot. Everything you know is Pubcrappe...

As long as the wealth of the richest at least triples while the rest and the country goes to hell under voodoo, nothing will change...

English is your second language, isn't it.

 

[Ernie S.]

Class envy troll thread...

Well somebody has been holding down wage growth for middle class over three decades and that's despite record productivity.
It seems there is an ideology who could give a shit about the middle class. The middle class has every right to be pissed and it isn't class envy!
It seems just about every economist agrees, the middle class has severely been weakened.

Middle class is not created by taxing people out of wealth and into middle class.. nor is it created by redistributing the poor and/or lazy into the middle class

The trickle up poverty of the left is in full effect

Well said!
What obama and his lackeys want to do is grow the middle class by moving more high wage earners into it through higher taxes.
That's an asinine plan. What should be done is get the poor off their asses and earning their way into the middle class. The best way to do that is to stop paying them to be lazy. Hunger is a great motivator.

 

[Nutz]

Any progress canada has made is solely due to the leeches living off the coattails of the United States. canada is a useless country that has contributed NOTHING to North America or the world in general. This thread needs to go to the canadian subforum...nonsense canadian bastards have accomplished nothing...all they can do is look at their gift horse in the mouth. Fuck canada.

 

[thereisnospoon]

Well somebody has been holding down wage growth for middle class over three decades and that's despite record productivity.
It seems there is an ideology who could give a shit about the middle class. The middle class has every right to be pissed and it isn't class envy!
It seems just about every economist agrees, the middle class has severely been weakened.

Oh? How so?.
And please spare me with income inequality and wage stagnation. And most of all, stow the living wage.
ON the latter, there is a chart which was released by a Penn State study which for example indicates a living wage of $33 per hour for a family of 4 living in Los Angeles County.
Based on that, they say a guy working as a convenience store clerk should be paid that wage for him to support a wife and two kids.
That's just not realistic.

I agree! $33 is out of line.
I simply pointing out what about every economist agrees on, the middle class has been severely weaken because of flat wage growth. While the US's middle class is weakening other wealthy nation's middle classes are strong. The US didn't exactly set the pace the wealthy nations in regards of recovering the the world wide recession, did we? Our middle class is too weak? That's a fact. If you deny that, you seriously need to do a light research and use non-biased resources. Talking points typically aren't factual. Try The Economist as an example.

Look, I can only go by how my friends and neighbors are doing. None of us are struggling in the manner in which those with a political ax to grind are claiming.
Those on the left use class envy as their talking point. Those on the right blame the present administration. Granted, this so called economic recovery is a whole lot of nothing. Not a single quarter since Q1 2009 has realized more than 1.9% annualized growth.
In economist circles, that's nearly flat.
When I see the complaints regarding the middle class, my attention immediately goes to these union supporters who claim that the downward spiral of union membership is their reason they believe the middle class is having a rough time.

 

[thereisnospoon]

According to a New York Times report, the rich in the US are getting richer, but the poor and middle classes are falling behind some of their Western peers.

"Middle-class incomes in Canada - substantially behind in 2000 - now appear to be higher than in the United States," David Leonhardt and Kevin Quealy write. "The poor in much of Europe earn more than poor Americans."

The UK median income is still behind that of the US, but it's catching up fast - a 19.7% increase since 2000. This is the same increase as Canada's, whereas the US number was up by only 0.3%. (It's worth noting that Germany's middle class is also stagnating - at 1.4%.)

The Times reporters based their conclusions on a survey of household incomes in about 20 countries over the course of 35 years, taking into account inflation, differences in taxes, government benefits and cost of living in different locations.

"With a big share of recent income gains in this country flowing to a relatively small slice of high-earning households, most Americans are not keeping pace with their counterparts around the world," they write.

The reporters point to three reasons why all but the wealthiest American may be falling behind:

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 American economy to maintain its share of highly skilled, well-paying jobs…

A second factor is that companies in the United States distribute a smaller share of the bounty to the middle class and poor than similar countries 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.

The struggle for middle- and lower-class Americans is reflected in public opinion polls, the reporters write, which generally show greater dissatisfaction with their government than in other Western nations.

BBC News - Canada passes US in middle-class wealth

Could we PLEASE have the rich pay their fair share so we can invest in America and Americans? This is getting ridiculous, hater dupes. See sig pp 1...

Reagan and his deregulation really shafted the midlle-class but good

Government price fixing? Yep, that's the way to go.

 

[francoHFW]

Luckily, you total chumps of the greedy idiot rich, while 80% of this board, are at most 30-40% of the country...the middle class was just KILLED by W, BEFORE the meltdown. Voodoo tax rates are still going, and mindless Pub obstruction only allows pumping up Wall St now- and you blame Obama LOL?...

 

[jasonnfree]

According to a New York Times report, the rich in the US are getting richer, but the poor and middle classes are falling behind some of their Western peers.

"Middle-class incomes in Canada - substantially behind in 2000 - now appear to be higher than in the United States," David Leonhardt and Kevin Quealy write. "The poor in much of Europe earn more than poor Americans."

The UK median income is still behind that of the US, but it's catching up fast - a 19.7% increase since 2000. This is the same increase as Canada's, whereas the US number was up by only 0.3%. (It's worth noting that Germany's middle class is also stagnating - at 1.4%.)

The Times reporters based their conclusions on a survey of household incomes in about 20 countries over the course of 35 years, taking into account inflation, differences in taxes, government benefits and cost of living in different locations.

"With a big share of recent income gains in this country flowing to a relatively small slice of high-earning households, most Americans are not keeping pace with their counterparts around the world," they write.

The reporters point to three reasons why all but the wealthiest American may be falling behind:

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 American economy to maintain its share of highly skilled, well-paying jobs…

A second factor is that companies in the United States distribute a smaller share of the bounty to the middle class and poor than similar countries 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.

The struggle for middle- and lower-class Americans is reflected in public opinion polls, the reporters write, which generally show greater dissatisfaction with their government than in other Western nations.

BBC News - Canada passes US in middle-class wealth

Could we PLEASE have the rich pay their fair share so we can invest in America and Americans? This is getting ridiculous, hater dupes. See sig pp 1...

They also have government run health care like just about every other civilized country in the world but the USA. Maybe ACA will change some things for the better but I would have preferred single payer. I've seen America go down hill since Reagan also, but he was a good salesman. Let all the money flow to the rich first and maybe they'll trickle some down on you after it first passes through their kidneys.

 

[Ernie S.]

Franco you have hit a new low. You are not worthy to polish Reagan's spit can.

Next week you will be posting how Republicans can't win elections. How since Bush SR. Democrats have held the presidency for 13 of the 21 years. How the democrats control the Senate. But with democrats controlling the government for the last 7 years you wish to blame the man whose policies ushered in the greatest peacetime expansion of the economy in history. Yet you fail to mention the utter damage that Clinton did with his "free" trade agreements. It was predicted and is coming true. And you obviously can't realize or ignore the fact that you can't flood the country with low educated poor people just to get votes and not have it effect the economy. No you ignore all of that and blame the last president that made a person feel good to be an American. A man that put America first all the while ignoring the damage the Kenyan in the WH has done to the country.

You are a sad little man franco.

Reagan was a demented disaster- tripled the debt and set the country on the road to ruin. Pubs forgot to invest in training, the other half of free trade- Everyone knew the labor intensive manufacturing would leave...



''The Demise of the American Middle Class In Numbers.

Over the past 60 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:

1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.

Over the past 63 years worker productivity has grown by 2.0% per year.

But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):

1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%

A 13% drop since 1980

2. THE TOP 10% GET A LARGER SHARE.

Share of National Income going to Top 10%:

1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%

An increase of 16% since Reagan.

3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.

The savings Rose up to Reagan and fell during and after.

1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)

A 12.3% drop after Reagan.

4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.

Household Debt as percentage of GDP:

1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%

A 45% increase after 1980.

5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.

Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:

1980 = 10%
2003 = 56%

A 5.6 times increase.

6. AND THE AMERICAN DREAM IS GONE.

The Probably of Moving Up from the Bottom 40% to the Top 40%:

1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%

A 10% Decrease.

Links:

1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 = https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 = Clipboard01.jpg (image)
2 – Congratulations to Emmanuel Saez | The White House
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = http://www.bea.gov/national/nipaweb...able=58&Freq=Qtr&FirstYear=2008&LastYear=2010
4 = http://www.prudentbear.com/index.php/household-sector-debt-of-gdp
4 = FRB: Z.1 Release--Financial Accounts of the United States--March 6, 2014
5/6 = Wealth And Inequality In America - Business Insider

Overview = http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts''
''

Although productivity per employee has gone up, individual employees are not appreciably more productive than they were in the 60's
Let's take an auto manufacturer for example. Back 50 years ago, tires would be delivered to Ford by the trailer load. 2 guys would unload the trailer, 2 more would sort and rack them. 2 more would take them from the warehouse racks and send them by conveyor to be mounted and balanced by 4 more guys. 1 more guy would deliver them to the assembly line where 2 more guys would mount them on the car.
These days, the truck backs in and tires are sorted and loaded by machines that inspect and mount them on the right wheels. The tires then run through a balancer that puts a color coded dot where each balancing weight should be applied. The tires are then roboticly placed in another carrier that magically delivers them to the assembly line at the right moment and installs them on the car. At that point, a worker checks the tires for the colored dots and places wheel weights. Another QC worker checks the torque randomly.
Yup those 2 guys install as many tires as 12 did 50 years ago, but they certainly don't work any harder OR smarter than their predecessors did.
The increased "productivity" is not the result of labor working harder or gaining skill, but a result of capital investment by Ford.

 

[francoHFW]

OK(?), but look at the non-rich's income, savings, and debt all go to hell after Reagan. MAYBE Voodoo worked for a minute (more like debt spending... and the S+L bubble), but not for a LONG time....

 

[Stephanie]

The greedy rich are those you all vote for in the Democrat party

and see how we all so much RICHER under your dear Leader and their policies of no jobs, spending trillions of taxpayers monies on more government entitlements by making up a NEW GOVERNMENT program to suck more of your monies into, more taxes, gas and food prices THROUGH the roof his whole time in office

Obamanomics is, trickle up poverty while he and the rest of your master's get richer

talk about duped

 

[rightwinger]

According to a New York Times report, the rich in the US are getting richer, but the poor and middle classes are falling behind some of their Western peers.

"Middle-class incomes in Canada - substantially behind in 2000 - now appear to be higher than in the United States," David Leonhardt and Kevin Quealy write. "The poor in much of Europe earn more than poor Americans."

The UK median income is still behind that of the US, but it's catching up fast - a 19.7% increase since 2000. This is the same increase as Canada's, whereas the US number was up by only 0.3%. (It's worth noting that Germany's middle class is also stagnating - at 1.4%.)

The Times reporters based their conclusions on a survey of household incomes in about 20 countries over the course of 35 years, taking into account inflation, differences in taxes, government benefits and cost of living in different locations.

"With a big share of recent income gains in this country flowing to a relatively small slice of high-earning households, most Americans are not keeping pace with their counterparts around the world," they write.

The reporters point to three reasons why all but the wealthiest American may be falling behind:

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 American economy to maintain its share of highly skilled, well-paying jobs…

A second factor is that companies in the United States distribute a smaller share of the bounty to the middle class and poor than similar countries 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.

The struggle for middle- and lower-class Americans is reflected in public opinion polls, the reporters write, which generally show greater dissatisfaction with their government than in other Western nations.

BBC News - Canada passes US in middle-class wealth

Could we PLEASE have the rich pay their fair share so we can invest in America and Americans? This is getting ridiculous, hater dupes. See sig pp 1...

Government does not invest in anything except increasing government employment and enlarging bureaucracy.

Then why is our government smaller than it was 50 years ago?