The Shrinking American Middle Class?

Submitted by volunteer47305 on Mon, 07/26/2010 - 6:20pm.

I usually look around the Internet for interesting news to track and came across this tidbit of statistical information that purports, to be able to prove, that we do indeed have a "Shrinking" middle class in America today. The article tracks some time frames and reasons for this shrinkage, and its possible further fallout across our nation.

The information is compelling if accurate, and telling of just how bad, putting too much trust on investing in college education, that may not be preparing Grades for the right jobs could do, by leave them with mounds of debt and little means to repay it, even if they land a job in their preferred fields.

Stagnation and deflation are words not to be flung around freely; but that is what could be a reality if America indeed does sacrifice the middle class to achieve a better globalization position. It really has been the middle class that has driven up the quality of life in America . . . Not the upper classes (ever).

Being middle class in the past, meant that one could buy that home with the white picket fence and afford decent medical coverage, insurance and maybe even have two cars, and afford to send kids to college.

Being middle class in the coming years, may mean being able to afford to rent, have access to places like Open Door medical, and afford to take the MITS bus to work daily, and afford to have an Internet connection and 2nd hand flea market computer system at home and maybe a satellite TV system, eat nutritionally and drive a car occasionally.

There is an ever widening gap between Upper and what is currently considered middle class; not to mention the gap between upper and working poor or disabled. Instead of middle class earnings of $50,000.00 - 75,000.00 as in the past? We will see it redefined as $30,000.00 - 50,000.00 and working poor as $15,000.00 to 25,000.00 (able to produce a living wage) which still does not provide for, medical insurances and many of life amenities, as we have become accustomed to, here in the good old USA.

I highly recommend you read the article and related articles for point counter points and take heed to how you are planning. And act accordingly. And remember in November, how we came to this point of a shrinking middle class, and vote accordingly.

http://finance.yahoo.com/tech-ticker/the-u.s.-middle-class-is-being-wiped-out-here's-the-stats-to-prove-it-520657.html?tickers=^DJI,^GSPC,SPY,MCD,WMT,XRT,DIA