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Middle class in rich countries is getting impoverished and converging with the poor countries, I guess that’s one way to become “more equal”.
by N_Lens 9mo ago
Middle class in rich countries is getting impoverished and converging with the poor countries, I guess that’s one way to become “more equal”.
- simianwords 9mo ago[flagged]
- aydyn 9mo agomiddle class is shrinking https://www.pew.org/en/trust/archive/fall-2024/the-state-of-the-american-middle-class https://www.pew.org/en/trust/archive/fall-2024/the-state-of-...
- simianwords 9mo ago[flagged]
- aydyn 9mo agoit literally is
- simianwords 9mo ago> Households in all income tiers had much higher incomes in 2022 than in 1970, after adjusting for inflation ?
- ProllyInfamous 9mo ago>after adjusting for inflation "Lies, damn lies, statistics." In 1970 1 oz of gold was ~$35 (by statute); today gold is $5,100; a few years ago it was well under two thousand dollarydoos. Almost everybody is broke. A better way to look at this is to realize that 2025 was the highest year of spending by the Top [whatever-percentage] of consumers. The US fiat dollar's superior global position is waning, and this'll rot all economies & classes. We're literally watching the final steps of "Trickle Down Economics" — where the wealth falls up [first slowly, then fast]. Add in some thinking machines — and it's just 21st century "slavery... with extra steps" (–R&M)
- simianwords 9mo agoall this is misleading. the reality is that all the income levels are doing better.
- sceptic123 9mo agocan you provide evidence?
- simianwords 9mo agoits literally in the article and i quoted the part
- sceptic123 9mo agoYou cherry picked a line and didn't include the rest: > But the gains for middle‑ and lower‑income households were less than the gains for upper‑income households And you're making claims that are only talking about income (where the evidence suggests that inequality is increasing) to suggest that people are better off. Where is the evidence that "all income levels are doing better"?
- ProllyInfamous 9mo agoCertainly the higher your fiscal positioning, the better each recent decade has felt. Sure, we all have color TVs in our pockets [/s == "rich"], but can young people even afford to educate themselves in this economy?! I know some very poor (and rich!) doctors and lawyers. Student loans and privatized healthcare are both evil within the USA — they can capture/demoralize just about any professional. [•] https://i.imgur.com/VTUbOTv.png https://i.imgur.com/VTUbOTv.png [a Moody's chart of expenditures, by income bracket, 1990 - 2025]
- simianwords 9mo agoYou are not able to talk about these separately. Inequality is increasing, but everyone's incomes have also increased. That means everyone has more money to spend, but also some people have more money than others. Why is it so hard for your to understand this?
- Cthulhu_ 9mo ago> The share of Americans who are in the middle class is smaller than it used to be. In 1971, 61% of Americans lived in middle-class households. By 2023, the share had fallen to 51%
- cperciva 9mo ago... primarily because households which would have been middle-class now have upper-class incomes instead.
- ProllyInfamous 9mo agoBackground: I live in a working class duplex neighborhood, adjacent to newer lakeside mansions. Few neighbors have any college education; the majority don't pay taxes (if any, net). My community is mostly pleasant, but I definitely wouldn't raise a family here (mostly single moms and blue collar workers). Yesterday among the poorest of neighbors said to me "I'm just trying to live a simple middle class life" — and I chuckled (rudely)... then responded "I'm among the wealthier people living on this street, and I'm not even middle class anymore — and we both still rent." We're two tenants literally scrubbing out a former smoker tenant's filth, for rent credit, so that the next working class tenant can pay this distant slumlord more Rent. Yeah, we're rich... /s
- 7777332215 9mo agoPeople don't like to live below their means in the US. Consumerism