Decline of middle class in USA.
#2
Re: Decline of middle class in USA.
In 2010, the latest date for which figures are available, middle-class Canadians and Americans enjoyed average incomes of around $18,700
In contrast, the top five per cent of Americans, with an average income of $58,600 after tax
#8
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Re: Decline of middle class in USA.
In Canada the media is reporting the 18,000 as per capita median income, and not average income.
Average weekly income in Canada is approx 753 per week in PEI, and 1,108 in Alberta which is highest, everywhere else is in between.
I suppose I am below average since I bring home about 750 in 2 weeks after deductions. The government classifies me as low income on that wage for most services.
Average weekly income in Canada is approx 753 per week in PEI, and 1,108 in Alberta which is highest, everywhere else is in between.
I suppose I am below average since I bring home about 750 in 2 weeks after deductions. The government classifies me as low income on that wage for most services.
Last edited by scrubbedexpat091; Apr 23rd 2014 at 5:28 pm.
#9
Re: Decline of middle class in USA.
How are they defining middle class? In the US, it is used to mean everyone who isn't very poor or very rich. In the UK it is much narrower, based on how you live and the job type. I can get that the median earners are middle class, but how wide do they stretch that out to? 25-75%?
#10
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Re: Decline of middle class in USA.
How are they defining middle class? In the US, it is used to mean everyone who isn't very poor or very rich. In the UK it is much narrower, based on how you live and the job type. I can get that the median earners are middle class, but how wide do they stretch that out to? 25-75%?
#11
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Re: Decline of middle class in USA.
https://www.census.gov/prod/2013pubs/acsbr12-02.pdf
I think they are missing a 1 in that figure for the top 5% income.
$159,619 according to this
SUMMARY OF FEDERAL INDIVIDUAL INCOME TAX DATA, 2010
http://www.financialsamurai.com/how-...-make-percent/
#14
Re: Decline of middle class in USA.
Difficult to believe since the US Census Bureau has the 2011 Median income at $51,324.
https://www.census.gov/prod/2013pubs/acsbr12-02.pdf
I think they are missing a 1 in that figure for the top 5% income.
$159,619 according to this
SUMMARY OF FEDERAL INDIVIDUAL INCOME TAX DATA, 2010
http://www.financialsamurai.com/how-...-make-percent/
https://www.census.gov/prod/2013pubs/acsbr12-02.pdf
I think they are missing a 1 in that figure for the top 5% income.
$159,619 according to this
SUMMARY OF FEDERAL INDIVIDUAL INCOME TAX DATA, 2010
http://www.financialsamurai.com/how-...-make-percent/
#15
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Location: The Shire
Posts: 1,117
Re: Decline of middle class in USA.
First point, I'm neutral in this discussion. I couldn't give a toss one way or the other.
The statement may be correct. The discussion is about median income (50% above, 50% below) and any figures on incomes of only the top 5% or only bottom 20% are irrelevant.
In the US, the incomes at the top are growing exponentially, while at the bottom, the incomes are growing comparatively much slower. It makes sense when you look at the last 10 years.
In Europe or Canada, the incomes of the top 50% are increasing, but the bottom 50% incomes are also increasing. Although the bottom 50% growth is less than the top 50%, it is growing comparatively faster than in the US.
The figures quoted for the increase in recent years of median income for the UK and Canada are near 20% growth, while in the US it is 0.3% growth. I think this is what is being referred to, and not the actual amount of the incomes themselves.
The statement may be correct. The discussion is about median income (50% above, 50% below) and any figures on incomes of only the top 5% or only bottom 20% are irrelevant.
In the US, the incomes at the top are growing exponentially, while at the bottom, the incomes are growing comparatively much slower. It makes sense when you look at the last 10 years.
In Europe or Canada, the incomes of the top 50% are increasing, but the bottom 50% incomes are also increasing. Although the bottom 50% growth is less than the top 50%, it is growing comparatively faster than in the US.
The figures quoted for the increase in recent years of median income for the UK and Canada are near 20% growth, while in the US it is 0.3% growth. I think this is what is being referred to, and not the actual amount of the incomes themselves.