The Last Of The Millenniums

Just because it always has been, doesn't mean it always will be

A Republican World – The ’35 Years Of ‘Trickle Down’ Has Killed The Middle Class’ Edition – ‘The American Middle Class Is No Longer the World’s Richest’

 

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The Republican mantra since Ronald Reagan has been, just ‘cut taxes on the corporations and wealthy ‘job creators’, and they will create jobs and everyone will benefit – a ‘raising tide floats all boats’.

The American Middle Class and poor, now are left stranded on the dock, watching a the wealthy, the corporations and even the rest of the industrialized World ‘raise’.

“Trickle down’ has killed the Middle Class.

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‘The American middle class, long the most affluent in the world, has lost that distinction’.

‘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’.

‘Although economic growth in the United States continues to be as strong as in many other countries, or stronger, a small percentage of American households is fully benefiting from it’.

‘Three broad factors appear to be driving much of the weak income performance in the United States’.

‘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’.

Younger Americans, though, are not keeping pace: Those between 16 and 24 rank near the bottom among rich countries, well behind their counterparts in Canada, Australia, Japan and Scandinavia and close to those in Italy and Spain’.

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

  • ‘Top executives make substantially more money in the United States than in other wealthy countries’.
  • ‘The minimum wage is lower’.
  • ‘Labor unions are weaker’.

‘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’.

‘Janet Gornick, the director of LIS, noted that inequality in so-called market incomes — which does not count taxes or government benefits — “is high but not off the charts in the United States.”

‘Yet the American rich pay lower taxes than the rich in many other places, and the United States does not redistribute as much income to the poor as other countries do’.

‘As a result, inequality in disposable income is sharply higher in the United States than elsewhere’.
From :http://www.nytimes.com/2014/04/23/upshot/the-american-middle-class-is-no-longer-the-worlds-richest.html?_r=0

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2 thoughts on “A Republican World – The ’35 Years Of ‘Trickle Down’ Has Killed The Middle Class’ Edition – ‘The American Middle Class Is No Longer the World’s Richest’

  1. ebrew79 on said:

    The sad thing is that clown Arthur Laffer who gave us this garbage feels as though that poor working people just haven’t worked hard enough! http://ericbrewton.com/2014/04/23/is-there-new-hope-for-nonviolent-offenders/

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