Is it as bad as CNN would have us think?
The steady decline of the middle class is yet another sign of economic polarization, said Rakesh Kochhar, associate director of research at Pew. Not only are more Americans shifting into the upper and lower classes, but they are moving into the higher range of the upper class and the lower range of the lower class. This is yet another sign of growing income inequality, he said. “There are fewer opportunities that place people in the middle of the income distribution,” Kochhar said. One silver lining, however, is that more people are moving up the ladder than down. The ranks of the upper class are growing faster, according to Pew’s research.
As I have observed before, it wasn’t until Obama assumed the Presidency that our national aspiration, as decreed by Obama, was to reach the middle class. Growing up, the aspiration was to be one of the rich and NOT just the middle class. Why stop at less when you can go further?
I also note this:
Senior citizens were most likely to have shifted into the upper class since 1971. The share of Americans age 65 and over in the upper bracket increased nearly 27% over that time. Married couples with no children and black Americans also saw larger gains. Those most likely to fall into the lower class were those with only a high school degree and high school dropouts, as well as unmarried men.
What’s missing that makes that lower class bigger that wasn’t mentioned? The utter implosion of the urban Black family – single women with children with Big Government as Daddy and Husband. I also note that illegal aliens are not listed here – when many coming over the border are effectively illiterate and low skilled, and therefore, low paying, skewing the stats.
Inequality of outcome – it is a feature of Freedom. It has always been here and no matter the howling the socialists want to do, it isn’t going to go away until real Socialism is entrenched (and Hillary and Bernie are hellbent on doing just that if elected joined by all of the Socialist Democrats in Congress). Then, we’ll all share the misery just like in Cuba and Venezuela.
Ironical, isn’t it – the socialists here want us to be just like Cuba, Venezuela, and Communist China and they have the largest income inequality of all! The top live exceedingly well due to Crony Capitalism (Crony Socialism??) and the poor are outright destitute.
But then, Mike Kitch thinks that’s just dandy (go ahead, google him and GraniteGrok).
