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Old 04-22-2014, 12:07 PM   #1
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Default The American Middle Class Is No Longer the World’s Richest

All hail deregulation

Drudge provides this link

The American Middle Class Is No Longer the World’s Richest


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.

The numbers, based on surveys conducted over the past 35 years, offer some of the most detailed publicly available comparisons for different income groups in different countries over time. They suggest that most American families are paying a steep price for high and rising income inequality.


http://www.nytimes.com/2014/04/23/up...ichest.html?hp

From 1973 to 2011, worker productivity grew 80 percent, while median hourly compensation, after inflation, grew by just one-eighth that amount, according to the Economic Policy Institute, a liberal research group. And since 2000, productivity has risen 23 percent while real hourly pay has essentially stagnated.

Meanwhile, it’s been a lost economic decade for many households. According to the Center for Budget and Policy Priorities, median income for working-age households (headed by someone under age 65) slid 12.4 percent from 2000 to 2011, to $55,640. During that time the American economy grew more than 18 percent.


http://www.nytimes.com/2013/01/13/su...-stagnate.html
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Old 04-22-2014, 12:09 PM   #2
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Old 04-22-2014, 12:17 PM   #3
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Default Re: The American Middle Class Is No Longer the World’s Richest

After the North American Beer Festival, all the brewery presidents decided to go out for a beer.
The guy from Corona sits down and says, "Hey Senor, I would like the world's best beer, a Corona."
The bartender dusts off a bottle from the shelf and gives it to him.
The guy from Budweiser says, "I'd like the best beer in the world, give me 'The King Of Beers', a Budweiser."
The bartender gives him one.
The guy from Coors says, "I'd like the only beer made with Rocky Mountain spring water, give me a Coors." He gets it.
The guy from Molson sits down and says, "Give me a Coke." The bartender is a little taken aback, but gives him what he ordered. The other brewery presidents look over at him and ask, "Why aren't you drinking a Molson's?" The Molson president replies, "Well, I figured if you guys aren't drinking beer, neither would I.
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Old 04-22-2014, 12:17 PM   #4
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Old 04-22-2014, 12:17 PM   #5
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Default Re: The American Middle Class Is No Longer the World’s Richest

A Canadian is walking down the street with a case of beer under his arm.
His friend Doug stops him and asks, "Hey Bob! Whacha get the case of beer
for?"
"I got it for my wife, eh." answers Bob.
"Oh!" exclaims Doug, "Good trade."


An Ontarian wanted to become a Newfie (i.e., a Newfoundlander) He went to the neurosurgeon and asked, "Is there anything you can do to me that would make me into a Newfie?".
"Sure it's easy." replied the neurosurgeon. "All I have to do is cut out 1/3 of your brain, and you'll be a Newfie."
The Ontarian was very pleased, and immediately underwent the operation. However, the neurosurgeon's knife slipped, and instead of cutting 1/3 of the patient's brain, the surgeon accidentally cut out 2/3 of the patient's brain. He was terribly remorseful, and waited impatiently beside the patient's bed as the patient recovered from the anaesthetic. As soon as the patient was conscious, the neurosurgeon said to him "I'm terribly sorry, but there was a ghastly accident. Instead of cutting out 1/3 of your brain, I accidentally cut out 2/3 of your brain."
The patient replied "Qu'est-ce que vous avez dit, monsieur?"
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Old 04-22-2014, 12:45 PM   #6
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Default Re: The American Middle Class Is No Longer the World’s Richest

Egypt, Babylon, Persia, Greece, Rome, Spain, Great Brit., I guess it's simply our turn to make the "has-been" list...
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Old 04-22-2014, 02:32 PM   #7
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Default Re: The American Middle Class Is No Longer the World’s Richest

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Old 04-22-2014, 03:36 PM   #8
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Default Re: The American Middle Class Is No Longer the World’s Richest

If I could stand the cold, knew how to ice skate and if they would let me stay there, I would move to Canada.
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Old 04-22-2014, 03:45 PM   #9
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Default Re: The American Middle Class Is No Longer the World’s Richest

I loved my 5 years in the Great White North. I still smell of maple.
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Old 04-22-2014, 04:29 PM   #10
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Default Re: The American Middle Class Is No Longer the World’s Richest

Quote:
Originally Posted by Vis View Post
I loved my 5 years in the Great White North. I still smell of maple.
It beats elderberries.
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