Middle class share of America's income shrinking

[knapplc]

Middle class share of America's income shrinking

 

 

 

WASHINGTON (AP) — The share of the nation's income earned by the middle class has fallen to its lowest level in recent decades. It's been surpassed by affluent earners as median wages stagnate and wealth concentrates at the top in a relatively weak economy.

 

A study by the Pew Research Center highlights the diminished share for the roughly half of U.S. adults who define themselves as "middle class," with incomes ranging from $39,000 to $118,000.

 

The report describes this group as suffering its "worst decade in modern history," having fallen backward in share of income for the first time since World War II and losing faith in the future.

 

In all, 85 percent of middle-class Americans say it is more difficult now than a decade ago to maintain their standard of living.

Thank goodness we stimulated the economy by giving it to corporations, banks and their CEOs - who then paid themselves hefty bonuses.

[BigRedBuster]

Really???? Someone needed to do a study on this??? I guess what ever you want to spend your time doing.

 

This should be no surprise to anyone. We are still in the worst economic down turn (recession, depression) in most of our lifetimes. Someone is surprised the middle to lower class is hurting or not as comfortable as they were before?

[knapplc]

Certainly the recession contributes, but I believe this shrinkage predates the downturn.

[sd'sker]

How the middle class became the underclass

 

Incomes for 90% of Americans have been stuck in neutral, and it's not just because of the Great Recession. Middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed.

In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data.

[knapplc]

There you go with that class warfare again, sd'sker.

 

[JJ Husker]

That's not class warfare, that's just a fact. It becomes class warfare when you're the President, mention it at every available opportunity, yet do nothing to correct it or to fix the tax code that allows billionaires to pay a much lower percentage than those of us in middle class pay. It's almost as if Obama wants the disparity to continue simply for the advantage this situation provides his campaign. I'm tired of these politicians constantly telling us what is really wrong and blaming the other party for all the problems yet they never manage to fix sh#t.

 

It is a very real problem but it IS nothing more than class warfare if all you're gonna do is talk about it.

[sd'sker]

There you go with that class warfare again, sd'sker.

 

gd, do i love that show. bunk was the man, but mcnulty was the best.

[strigori]

That's not class warfare, that's just a fact. It becomes class warfare when you're the President, mention it at every available opportunity, yet do nothing to correct it or to fix the tax code that allows billionaires to pay a much lower percentage than those of us in middle class pay. It's almost as if Obama wants the disparity to continue simply for the advantage this situation provides his campaign. I'm tired of these politicians constantly telling us what is really wrong and blaming the other party for all the problems yet they never manage to fix sh#t.

 

It is a very real problem but it IS nothing more than class warfare if all you're gonna do is talk about it.

Obama can't change the tax code. Congress has to do it. And all one party talks about is making sure that red line gets another big spike. Ryan's budget is exhibit #1.

[knapplc]

That's not class warfare, that's just a fact. It becomes class warfare when you're the President, mention it at every available opportunity, yet do nothing to correct it or to fix the tax code that allows billionaires to pay a much lower percentage than those of us in middle class pay. It's almost as if Obama wants the disparity to continue simply for the advantage this situation provides his campaign. I'm tired of these politicians constantly telling us what is really wrong and blaming the other party for all the problems yet they never manage to fix sh#t.

 

It is a very real problem but it IS nothing more than class warfare if all you're gonna do is talk about it.

 

It continues to amaze me how many people so readily come to the defense of billionaires when they are, comparatively, poverty-stricken.

 

Those billionaires own Fox news. Those billionaires give Rush and Hannity and their ilk cash to push their agenda. And rather than look at the tax code and see that it's not only broken, but purposefully broken by those same billionaires, people in this country support the brokenness, and do so willingly, believing they are fighting for what is right, because that's what the billionaires pay the mouthpieces to say.

 

You may be tired of the politicians telling you what is wrong and who to blame, but you are not, obviously, tired of the super-rich doing just that. Unreal.

[JJ Husker]

What is unreal is that you mistakenly assume that I am not tired of the disparate tax code situation. I have said as much numerous times but, because I don't agree that Obama is the man to initiate the needed change, you skew my position and only see what you want to see. Hint- the guy that constantly bludgeons you with the issue is likely not the guy that is going to build consensus and solve the problem. Romney probably wouldn't accomplish much in this regard either but at least I can hope that he is not as polarizing as Obama. This is a problem that has to be fixed by congress but will also take some guidance from the President. Sorry but anything he didn't get done when he had congress on his side is not going to magically be cured with another four years of the leadership he has shown thus far. The system is broke and yet we still sit here and bicker along partisan lines. What we need desperatly is what we were told Obama would be; a unifying force who would work with both sides. What we got instead was the most devisive, polarizing figure that I can ever recall in the White House and the most divided, useless congress ever. All of the responsibility for that does not simply fall on uncooperative tea partiers and republicans. Obama is also a big part of the problem. We're f'd because nobody in elected office really wants it fixed. Not really.

[sd'sker]

We're f'd because nobody in elected office really wants it fixed. Not really.

this might be the first time i have agreed with you on politics.

now, time to disagree again. obama is 'divisive' because republicans hate everything about him and they have since he was nominated to run for president. what has he done, personally, to be divisive? when has boehner ever done anything to reach across the aisle? the republicans refuse to agree with anything obama says or proposes for the simple fact that the innately hate him for some reason.

[ZRod]

You say that Obama the most polarizing that you can ever recall in office but I bet most people would argue that the guy before him could give Barack a pretty good run for his money in that department.

[strigori]

You say that Obama the most polarizing that you can ever recall in office but I bet most people would argue that the guy before him could give Barack a pretty good run for his money in that department.

Maybe. But there is so much complete BS about Obama that is manufactured by the Rush and Becks out there. Like he's a Muslim, or the 'birthers' in general. Most of the hate for Bush was at least policy related, or his tendency for foot in mouth disease.

[sd'sker]

You say that Obama the most polarizing that you can ever recall in office but I bet most people would argue that the guy before him could give Barack a pretty good run for his money in that department.

Maybe. But there is so much complete BS about Obama that is manufactured by the Rush and Becks out there. Like he's a Muslim, or the 'birthers' in general. Most of the hate for Bush was at least policy related, or his tendency for foot in mouth disease.

i agree with everything you said. but to me, the point is that neither did anything personally to be divisive, but the nature of politics is to frame those you hate or disagree with (which, anymore is reason enough to hate) as divisive. because said politician does not agree with your politics, he/she is divisive.

[walksalone]

You say that Obama the most polarizing that you can ever recall in office but I bet most people would argue that the guy before him could give Barack a pretty good run for his money in that department.

 

If it wasn't for the SEAL's killing Bin Laden, Obama would be remembered as America's first black president, and that's it.