Categories
Antiwork

The American Middle Class Is No Longer the World’s Richest (Published 2014)

I'm in no doubt that the numbers will look even more dire from 2022 data. Here's the crux of the problem – while GDP continues to grow at an healthy clip, the benefits accrue to an ever narrower sliver of the the rich: Median per capita income was $18,700 in the United States in 2010 (which translates to about $75,000 for a family of four after taxes), up 20 percent since 1980 but virtually unchanged since 2000, after adjusting for inflation. The same measure, by comparison, rose about 20 percent in Britain between 2000 and 2010 and 14 percent in the Netherlands. Median income also rose 20 percent in Canada between 2000 and 2010, to the equivalent of $18,700


I'm in no doubt that the numbers will look even more dire from 2022 data. Here's the crux of the problem – while GDP continues to grow at an healthy clip, the benefits accrue to an ever narrower sliver of the the rich:

Median per capita income was $18,700 in the United States in 2010 (which translates to about $75,000 for a family of four after taxes), up 20 percent since 1980 but virtually unchanged since 2000, after adjusting for inflation. The same measure, by comparison, rose about 20 percent in Britain between 2000 and 2010 and 14 percent in the Netherlands. Median income also rose 20 percent in Canada between 2000 and 2010, to the equivalent of $18,700

Leave a Reply

Your email address will not be published. Required fields are marked *