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The incredible shrinking middle class.
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<blockquote data-quote="av8torntn" data-source="post: 290041" data-attributes="member: 8259"><p>OK let's get back on topic. An article with a little more common sense approach.</p><p></p><p>A key point from the article.</p><p></p><p></p><p>Median household income in the United States is 6 percent higher in real dollars than it was a decade ago at a comparable point in the previous business cycle. Middle-class households have been moving up the income ladder, not down.</p><p></p><p>The large majority of Americans, including the typical middle-class family, is measurably better off today after a decade of healthy trade expansion.</p><p></p><p></p><p><a href="http://www.freetrade.org/node/782" target="_blank">http://www.freetrade.org/node/782</a></p><p></p><p>If that does not work for you than you may want to look at it like this article does. Somehow I think that the real problem you have is not that the middle class is shrinking it is that they are moving up.</p><p></p><p>Key points from this article.</p><p></p><p></p><p>Critics of trade repeat as a mantra that real wages have been stagnant since the 1970s. But the data on real wages exclude benefits -- which have been rising as a share of worker compensation. Those data also rely on a cost-of-living index that has systematically overstated inflation and thus understated real income gains.</p><p>The U.S. Bureau of Labor Statistics reports that the average real hourly compensation earned by Americans has actually grown by 22 percent during the past decade -- even as trade and other measures of globalization have grown rapidly.</p><p><a href="http://www.cato.org/pub_display.php?pub_id=8797" target="_blank">http://www.cato.org/pub_display.php?pub_id=8797</a></p></blockquote><p></p>
[QUOTE="av8torntn, post: 290041, member: 8259"] OK let's get back on topic. An article with a little more common sense approach. A key point from the article. Median household income in the United States is 6 percent higher in real dollars than it was a decade ago at a comparable point in the previous business cycle. Middle-class households have been moving up the income ladder, not down. The large majority of Americans, including the typical middle-class family, is measurably better off today after a decade of healthy trade expansion. [url]http://www.freetrade.org/node/782[/url] If that does not work for you than you may want to look at it like this article does. Somehow I think that the real problem you have is not that the middle class is shrinking it is that they are moving up. Key points from this article. Critics of trade repeat as a mantra that real wages have been stagnant since the 1970s. But the data on real wages exclude benefits -- which have been rising as a share of worker compensation. Those data also rely on a cost-of-living index that has systematically overstated inflation and thus understated real income gains. The U.S. Bureau of Labor Statistics reports that the average real hourly compensation earned by Americans has actually grown by 22 percent during the past decade -- even as trade and other measures of globalization have grown rapidly. [url]http://www.cato.org/pub_display.php?pub_id=8797[/url] [/QUOTE]
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