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The incredible shrinking middle class.
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<blockquote data-quote="diesel96" data-source="post: 288912" data-attributes="member: 9859"><p>American economy went from having the world's most dynamic middle class to being on the verge of a rich-poor state in only 30 years. </p><p>Why it is that U.S. politics moved left in the age of a relatively middle-class society, and moved right as society got more unequal?</p><p> </p><p>Lets not be fooled by the appearance of a "middle class”.</p><p>You have to take inflation into account. Not just income. You also have to adjust the parameters. Anyone earning less than $40,000 in the major metro areas where most of our population lives is poor. You can barely survive on $50,000 if you have a higher than average intelligence and are able to manage your money better than most. You will never be able to buy a home and very rarely buy a new car. You will, most likely, have to share rent with someone else unless you are willing to live in an unsafe neighborhood. This is lower middle class. Your life will not change if you move out of the city because you will be paid less if you can find a job.</p><p>And BTW, if all your money is going towards the basics..... rent, transportation, fuel, insurance, healthcare, etc.....with no excess for spending on retail, goods or services, this does not exactly stimulate the economy.</p></blockquote><p></p>
[QUOTE="diesel96, post: 288912, member: 9859"] American economy went from having the world's most dynamic middle class to being on the verge of a rich-poor state in only 30 years. Why it is that U.S. politics moved left in the age of a relatively middle-class society, and moved right as society got more unequal? Lets not be fooled by the appearance of a "middle class”. You have to take inflation into account. Not just income. You also have to adjust the parameters. Anyone earning less than $40,000 in the major metro areas where most of our population lives is poor. You can barely survive on $50,000 if you have a higher than average intelligence and are able to manage your money better than most. You will never be able to buy a home and very rarely buy a new car. You will, most likely, have to share rent with someone else unless you are willing to live in an unsafe neighborhood. This is lower middle class. Your life will not change if you move out of the city because you will be paid less if you can find a job. And BTW, if all your money is going towards the basics..... rent, transportation, fuel, insurance, healthcare, etc.....with no excess for spending on retail, goods or services, this does not exactly stimulate the economy. [/QUOTE]
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