The Phaserl


Death of the American Middle Class — No Longer the World’s Richest

The struggles of the poor in the United States are even starker than those of the middle class.

by David Leonhardt and Kevin Quealy, NY Times:

The American middle class, long the most affluent in the world, has lost that distinction.

While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.

After-tax middle-class incomes in Canada — substantially behind in 2000 — now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.

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