Depressing but true - How the middleclass in the US became the underclass

[karadinart]

http://money.cnn.com/2011/02/16/news/economy/middle_class/

It's nothing new, it began thirty years ago and picked up speed in the last ten.

And people wonder if we need labor unions. (roll eyes)

Comments

[ani-mama.livejournal.com]

Average US family income is $33,000? Yeah, I don't think that qualifies as "middle class" any more. Maybe 30 years ago.

I think of "middle class" as being able to have a comfortable lifestyle with enough money to pay the bills on time, own a home, and afford a few luxuries. There are not many places left in the country where you can do that for $33,000.

[karadin.livejournal.com]

Too true.

[hideincarnate.livejournal.com]

...this makes me so-so ANGRY.

[karadin.livejournal.com]

If everything goes to the top, how long can the economy survive, if no one can support it by you know, buying things????

*though most of my income goes to Japan anyway*

[hideincarnate.livejournal.com]

It's going to crash is what will happen. I wish we could tax the fuck out of the rich. They don't need or even use all their money. It makes me want to commit illegal acts is what it does.

[karadin.livejournal.com]

Trickle down doesn't trickle down, it stays at the top.

[shouldboverthis.livejournal.com]

And my conservative relatives wonder why I'm upset. 30 years is about right. When I went through my adoption papers, I found out that my parents were making $20,000 from Dad's salary in the military. They were upper middle-class, owned two rental properties and had stock.

Hubby and I make decent money but in Boston we're scraping by.

It's ridiculous.

[karadin.livejournal.com]

It is difficult to explain to relatives why money doesn't go as far as it used to, my grandmother assumes that every generation makes more than the one before it, my parents both made more in income and in the value of their dollar vs ours.