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ANSWERS: 11
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Not really, but the US middle class "is increasingly squeezed by sagging incomes and soaring expenses." Adjusted for inflation, median household income dropped by $1,175 between 2000 and 2007, said Elizabeth Warren, professor at Harvard Law School... At the same time, the average family is spending $4,655 more on basic expenses, such as gas, housing, food and health insurance. Gas alone costs $2,195 more for a family making the same commute in May 2008 as it did eight years earlier. http://money.cnn.com/2008/07/23/news/economy/middle_class/index.htm?postversion=2008072313&eref=rss_topstories Personally I would like to believe that it's just part of a cycle of ups and downs.
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Yes. The tax system is crushing the middle class. The current progressive tax system is forcing families to do without and forcing both parents to HAVE to work. http://www.fairtax.org
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Are you kidding? If it weren't for the middle class the US would go completely broke! In fact, were are heading down a notch or two. But I don't think the middle class (aka - the working poor) will ever slide all the way down to the lowest economic rung. There would be nothing left to tax!
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I think that the meaning of the question is are things getting tough for the middle class and the answer from my point of view is that, yes, they are.
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i hope not. i think im prolly in that class.
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we have a middle class...?
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probably... Lou Dobbs book "War on the Middle Class" was very interesting..
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This question has been being asked for, like decades -- many, many decades. It seems that the middle class is in good shape and will stay a while longer. Best way to end the middle class is to do what you could to get yourself into the upper class.
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In the short term, probably. We created the post-WWII middle class with highly progressive taxation (the top marginal rate in the 1950s was *91%*), massive subsidies to housing and education (GI Bill, FHA loans, etc.), and a heavily unionized workforce. Then, when the Powers That Be decided a middle class was too politically potent and started reversing those trends, the middle class started (and the government followed) borrowing its way to 'prosperity' We have a *massive* debt overhang that needs to be drawn down before we'll have broad-based prosperity again. The rich, of course, will continue to have staffs to count their houses for them (Et tu John McCain!), the poor have been/are/will be poor, and the rest of us will muddle on. http://mwhodges.home.att.net/nat-debt/debt-nat-a.htm Since we were a nation that chose to believe blatant fantasies (The Soviets will kill us all, We can't let Vietnam 'fall', tax cuts are self-financing, deficits don't matter, Saddam is the modern Hitler, etc.), we probably deserve what has come our way.
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NO NOT HARDLY
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Its disappearing for certain.The disparity has only come in over the last three decades.Wealth has continusouly become concentrated in a few hands.
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