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  • Last year, the Pew Research center reported that the income gap in the United States

  • It's between the middle and upper class was the largest on record.

  • The wealth owned by just the topzero point-one percentwas equivalent to the wealth of the bottom 90 percent.

  • Many economic analysts and politicians have lamented the decline of the middle class, and petition for its growth.

  • So why does the middle class matter? Well, to begin with, let’s define the middle class.

  • The term is so nebulous that it seems to apply to almost everyone.

  • The New York Times and the American Enterprise Institute

  • use the income bracket between 35 thousand to 100 thousand dollars a year.

  • But a 2012 Pew study reports that even people below and above these boundaries

  • consider themselves a part of the middle class - depending on where they live and how many dependents they have.

  • According to the US Census Bureau’s most recent data,

  • the nation’s median annual income is about 50 thousand dollars.

  • Because there are so many that fall into the middle class category, they wield significant political and economic power.

  • Politicians often make promises to the middle class during election campaigns.

  • In the President’s 2015 State of the Union address,

  • he made sweeping commitments to the middle class, pledging tax cuts and more social programs.

  • He vowed to close tax code loopholes for corporations and thesuper rich”.

  • The middle class has significant buying power throughout America.

  • The financial security of towns and cities, depends on local businesses,

  • which in turn, depends primarily on middle class patronage.

  • Restaurants, movie theatres, shopping malls - these all depend on the customers with disposable income.

  • And yet, the middle class is shrinking. It’s been in decline since the 70s.

  • That was when the Post-World War II industries of Europe and Asia caught back up with the United States.

  • Companies began outsourcing labor to cheap foreign nations.

  • American factories, which once gave high-paying jobs to workers with just a high-school education, are all but extinct.

  • The American automobile industry, which employed hundreds of thousands of Americans fifty years ago,

  • was near bankruptcy in the late 2000s.

  • Pew reports that the aggregate wealth claimed by the middle class in 2010 was 45%, while in 1970, it was 62%.

  • The middle class is also a critically important ladder of social mobility.

  • The Pew Charitable Trust, a public policy organization, reports that without the middle class, the American Dream may be unattainable.

  • Perhaps that’s why President Obama has been fighting for social programs

  • that protect the middle and lower classes - programs like Medicare, and Free Community College.

  • However, with much of the American political system composed of, and influenced by, the wealthy elite

  • - the gap between rich and poor is likely to increase in the coming years.

  • Want to know just how rich the top 1% really are?

  • Check out this awesome visualization from our friends at AJ+.

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Last year, the Pew Research center reported that the income gap in the United States

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How Powerful Is The Middle Class?

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    羅紹桀 posted on 2016/04/05
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