Different ways of looking at a shrinking Middle Class in the US. The arbitrary definition used by Pew research is based on a formula that claims that a House Hold belongs to the Middle Class if its annual income is between 2/3 and double the median household income for 2010. The median : Just under $70,000.00 i.e Middle class is defined to be between about $47,000 and $140,000.00.
Click on the following link view the various graphs and write a comment under your real name.
http://finance.yahoo.com/photos/the-diminishing-middle-class-slideshow/the-diminishing-middle-class-photo-1346780446.html
5 comments:
Mickey Azirov
It seems that the poor people are moving up in terms of income and the rich are moving down in terms of income. also, based on the documents, it seems that people feel it is hard to maintain the status of a middle class citizen. Surprisingly, people feel optimistic about the financial crisis and feel that their children will have better financial lives than themselves.
Rafael Puerari
According to the graphics most of the people say that is not easy to stay in the middle class, but 55% of adults who are in the middle class are optimistic for their economic future. Also the middle class blame the congrass for this difficult year, however most porcentage of pelople belive that is going to take 4 or less years to recover.
Joey Whelan
According to everyhting that the graphs have been stating the middle class is the hardest class to sustain life in, and maintain your stature. The graph states that the middle income population shrunk by 10% from 1971 to 2011. but most people are optomistic about the situation becuase they think that the problem will be fixed with the next 4 years.
Kristyn Quinton
In my opinion the rich are getting richer and the poor are getting poorer. The middle class is shrinking due to the economic downturn and without some help the middle class will disappear over time. Forty-two percent of the middle class is in worse shape then before the recession and according to eighty-five percent of adults in the middle class it is harder to maintain a middle class lifestyle today then it was ten years ago. The middle class is struggling but no one is helping them. The government either benefits the rich or the poor but forgets about the middle class which is the largest class of the three. The middle class' net worth is almost as low as it was during the economic slump in 1983. The graphs depict middle class citizens who aren't getting the help they need and there is a fine line being drawn between the rich and poor. If things continue the way they have been over the past decade the middle class will eventually disappear.
Matthew Nanopoulos
Of course the middle class is going to be the ones that are struggling, because I feel that they are the ones working the hardest, yet they are the ones who receive the least. The poor has backup plans such as filing for unemployement, and they can also file for welfare. The rich on the other hand pay the least amount of taxes and tend to be better off. It just isn't fair and I feel that it is up to those middle class citizens to do something about it.
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