Aside from Super-Rich, All Americans are poorer this century

TeleSur | – –

Soon, researchers predict, the middle class will no longer be the largest class in the United States.

Households in the United States made less money in 2014 than they did in 1999, according to a study released Wednesday by the Pew Research Center, a decline that transcends class.

According to the research, lower-income households saw their income drop from a median of US$26,373 in 1999 to US$23,811 in 2014; middle-income households declined from US$77,898 to US$72,919; and even upper-class households lost ground, dropping from a median of US$186,424 to US$173,207.

The drop in income was felt across the U.S., with Rakesh Kochhar, associate director for research at Pew, saying there’s no one reason why. Rather, there are various factors contributing to the decline, particularly among the middle and lower classes, from globalization and the outsourcing of jobs to an erosion of the power of organized labor.

The result is a shrinking middle class. Some 51 percent of U.S. citizens lived in middle-class households in 2014, down from 55 percent in 2000.

The Pew Center defines the middle class as households with incomes between two-thirds of U.S. median income and twice the median, adjusted for household size and the local cost of living.

In 2014, a three-person household was middle class if its annual income fell between US$42,000 and US$125,000.

According to that standard, middle-class adults now make up less than half the population in cities such as New York, Los Angeles, Boston and Houston. Indeed, the decline has been felt in 90 percent of U.S. metropolitan areas. Soon, researchers predict, the middle class may no longer be the largest class in the country.

Via TeleSur

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Related video added by Juan Cole:

The Middle Class Is Shrinking — But Not Everywhere

5 Responses

    • Well, Dieter Heymann, if you are one of those people who fall out of the middle class and join the fastest growing class in America today . . . which is the Nouveau Poor . . . it could be very bad for you.

      (Technically I suppose you could be living in Germany, but the broader thrust of my comment still stands).

  1. Hey y’all! This might help?

    Stop electing the enablers who are reallocating our money into the hands of the few.

    Congress controls all budgets and spending. Congress makes laws.

    Continue to elect these time and resource wasting •••clowns to Congress who ride in on emotional and populist issues and our standard of living will accelerate in decline.

    Those who STEAL from all of us on a continuous basis are protected by law.

    WE ARE NOT!!

  2. 1. There is data that shows the middle moving to the top.
    2. The data is not reliable as there are many areas held constant like the underground economy that may be increasing dramatically.
    3. Freebees from the Internet are not counted as anything.
    4. Things can’t be that bad if we are all too fat with diabetic.
    Here is some data link to textbooksfree.org

    • 1. If such data exist, they will be hyped by our “move along folks nothing to see here” press. I await the trumpeting of such data.

      2. Is the underground economy big enough to make participants “more wealthy”? I mean the underground economy of the plumber insisting on getting paid in cash, not the underground economy of illegal drug sales.

      3. Is there any reason freebees from the internet should be counted as anything? Is there any freebee from the internet that is genuine wealth in any sense? Perhaps some of them displace spending, which should count for just as much as the spending they displace. Is it enough to matter?

      4. Aw contrair, mon frair. The building wave of type 2 diabetes is rising fastest among the low-money classes and is tied to consumption of those kinds of sh*t food which cost so little to produce that they can be sold for little money and still make a profit . . . things like fat, oil, shortening, sugar sugar sugar, sugargenic super-white flour, high fructose corn syrup, etc. Higher-class people can afford higher-nutrient less-diabetegenic shinola food and I almost betcha that the percent of new diabetes type 2 cases increases less the higher up the class and money ladder you go.

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