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America's middle class no longer world's richest

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  • RedShirtCalTech Pasedena, CA
    May 1, 2014 12:08 p.m.

    Gotta love the liberal lemmings.

    The fact is that since Obama took office the middleclass has seen their incomes drop by $5000 or more. The drop in income will continue as long as unemployment remains high.

    The problem, as the DN pointed out yesterday is GOVERNMENT. Both Democrats and Republicans agree on that fact.

    If you want to fix the inequality, get government out of the way and cut the amount of power given to it.

    To "andyjaggy" Europe is doing better becuase the nations that are prospering are moving AWAY from socialism.

  • Stormwalker Cleveland , OH
    April 30, 2014 4:03 p.m.

    Gutting the rules on lending meant an immediate burst of home buying as people who could not get a loan suddenly were able to borrow money to buy a house.

    Yay America!

    And then the banksters got in on the act and started doing all sorts of things with loans to boost profits and run the stock market up.

    Yay America!

    And then the collapse started as bad loans mounted and jobs disappeared and people lost their homes and the whole problem snowballed toward true depression.

    Um... boo! It must be Obama's fault. Bad, bad Obama!

    Sometimes the immediate results of an act are very different from the long term consequences.

    Yes, Reaganomics (Or, as his VP liked to call it: Voodoo Economics) made the economy bounce - but how much of that was Reagan and how much was it the massive tech boom in the first years of the world-wide growth of the internet?

    And thirty years later CEO compensation has increased 725% but worker compensation increased less than 6%.

    Not much trickle down there.

    More like bad Voodoo.

    But, you know, Yay Reagan! Boo Obama!

  • airnaut Everett, 00
    April 30, 2014 2:12 p.m.

    I blame Republicans for this...

  • Cheesecake Salt Lake City, UT
    April 30, 2014 9:29 a.m.

    "If Canada's health care single payer system is soo great. Then why does it have to be subsidized with money that Canada borrows?"

    ... Just want to point out that the United States spends MORE PUBLIC FUNDING on healthcare, per capita, than Canada, and yet those funds help a significantly smaller portion of our population. From an economic standpoint, the single payer system (public health insurance) is proving a better system than private insurance. Pretend you're the owner of a medium-sized business, wouldn't it be great to hire people without having to factor in the cost of their health insurance?

    Also, the majority of Americans pay a similar percentage of their earnings toward taxes (federal and state) as their Canadian neighbors (federal and provincial), but Canadians get health insurance from the deal. #funfact

  • worf Mcallen, TX
    April 30, 2014 8:24 a.m.

    @cjb
    Bountiful, UT

    "The problem is very few have shared in this increased wealth"? This is crazy!

    Every one has equal opportunity to earn money, but we don't all have the same motivation to do it.

    Therefore, government takes from the worker, and gives to the non-worker.

  • Itsjstmeagain Merritt Island, Fl
    April 30, 2014 8:05 a.m.

    Truth.
    I'm afraid your comment about preexisting condition is false. People with preexisting conditions were denied and dropped by insurance carriers unless it was in the contract with the employer.
    I know of only one employer whose employees were protected: Federal Employees under the Federal Employee Health Benefit program. I also know and have seen plenty of news reports of people dropped when they needed their insurance because they did not identify Acne when they applied.
    Don't lie, this is just too easy to see through.

  • 1978 Salt Lake City, UT
    April 30, 2014 8:00 a.m.

    To all Liberals who still want to blame Reagan:

    "U.S. families in the 20th percentile of the income distribution make less than their counterparts in Canada, Sweden, Norway, Finland, and the Netherlands, which was not true 30 years ago."

    If I am not mistaken 30 years ago was during the Reagan Presidency. I am sorry that facts get in the way of your point of view.

    I got my first real job during the Reagan Administration with good pay and benefits. My children are not having the same success I had under this administration. This isn't an opinion it is reality.

  • Itsjstmeagain Merritt Island, Fl
    April 30, 2014 6:57 a.m.

    Back on topic.
    The middle class has been losing ground over several decades, not just 6 years under Obama. We have the collapse of the housing market that turned people upside down. People complain about regulations, but revoking Glass-Steigal gave them a license to be stupid. Banks were very stringent with rules each time I bought a house years ago, but no more. Health care was available to most people through their employer, but no longer. An illness in a family will bankrupt them. I am familiar with Single Payer System in Europe, they will never end it. That was my hope, but the insurance industry killed any idea of locking them out. Need the OH and profits. We have a great love of weapons and pay far too much and don't need them. It is a jobs program for the Right, not for the middle class but for the shareholders. Latest estimates is the F-35 will have a life cycle cost of 3/4 Trillion dollars with the current, greatly reduced production numbers.
    The middle class was sent to the Gallows when Reagan fired the Air Traffic controllers. Unions created and maintained the middle class, not business or Government.

  • Blue Bolshevik Salt Lake City, UT
    April 29, 2014 8:58 p.m.

    more guns

  • TRUTH Salt Lake City, UT
    April 29, 2014 8:13 p.m.

    Shaun,

    It was illegal to deny coverage to anyone before Obamacare.........so no one was denied it ever! Until now, the VA has refused the care of veterans and allowed them to die untreated, and this is under the careful watch of liberals like yourself.....so you may want to invest on that card reader, under Obamacare, you Libs are going to need it!

  • GaryO Virginia Beach, VA
    April 29, 2014 8:09 p.m.

    Hey Liberal Ted -

    "You're an absolute fool . . . "

    Wrong, YOU are if you actually believe Reaganomics actually works after ALL the available evidence proves it DOES not.

    You did notice the subject of the Article, didn't you?

    ‘America's middle class no longer world's richest’

    That's what comes from three decades of ridiculous Right Wing economic policies that tell us enriching the already rich is good for the Middle Class.

    That's pure Hokum . . . In other words, standard "Conservative" ideology.

  • GaryO Virginia Beach, VA
    April 29, 2014 8:02 p.m.

    Hey 1978 -

    "This has happened under Barack Obama . . . " while Reaganomics implemented by Republicans is still in effect.

    You do remember the justification behind reducing taxes for high earners don't you? All that money was supposed to come tricking down to the middle Class.

    Well OBVIOUSLY it does NOT work.

    It's time to bump up the nominal tax rate for the highest earners back to 70 percent or so. And we need to build infrastructure and get people working . . . which is EXACTLY what Obama proposed in his Job's Act of 2011, the one SHOT DOWN by obstructionist regressive Republicans.

    Constant obstructionism by "Conservatives" only harms this nation.

    Face it, American "Conservatives" are America's Enemy Number ONE.

  • Shaun Sandy, UT
    April 29, 2014 2:54 p.m.

    @shane333. If you were choking at a restaurant do I have right to shake you down for money before I come to your aid? Should I carry around one of those credit card readers for my smart phone so I can max out your credit card before I help you?

    Would you call 911 and provide aid to someone who got in a car accident or would you make sure they have the means to pay first? Where do you draw the line? If you say they should have the right to go to the hospital to receive treatment but do not have insurance or the means to pay, then they should of never received treatment in the first place according to your logic.

  • Shane333 Cedar Hills, UT
    April 29, 2014 2:23 p.m.

    Shaun,

    Do you have the right to have your car repairs provided for you? More and more they require specialized expertise and advanced technological equipment. Does society owe you a car, too, for that matter?

    What about a smartphone. I don't have one of those, and it's getting more and more difficult to keep up without one. Seems like everyone texts or expects you to have immediate access to emails anymore. I don't have the expertise nor equipment to create my own smartphone. Does society owe me a smartphone?

    Once you go down the road of saying that society owes someone a consumer product or service it becomes an exercise in subjective opinion and mental gymnastics to determine what gets counted as a "right" and what people have to provide for themselves.

  • Liberal Ted Salt Lake City, UT
    April 29, 2014 2:21 p.m.

    If Canada's health care single payer system is soo great. Then why does it have to be subsidized with money that Canada borrows?

    This is the same fate of every health care socialists system around the world. All of the countries go into debt, to keep the costs down, so the people stay submissive to the millionaires and billionaires that run and control everything.

    You're an absolute fool, if you believe that Obama really cares about you personally. The objective is power and authority and control over people. That's what elites do. The moment it looks like you are going to be independent, they tax you, they flex the muscle of the government, they force you to kneel and fear them.

    You don't believe that you're actually free right now, do you?

    If Government is soo good at running and managing things. Then why spend $1 Billion on ammunition just to turn around and destroy it? Think of all the children that could have been fed on that borrowed money.

  • Shaun Sandy, UT
    April 29, 2014 1:46 p.m.

    @Shane333. Healthcare in America may be better than other nations but it is only better if you have access to it. I am sure any millionaire or billionaire can get the best healthcare in the world but I doubt any poor or middle class person can.

    I realize your counter argument would be that nobody has a right to healthcare and that is where we will disagree. You will probably go on and say if people have a right to healthcare then they should have a right to food or Porsche's or whatever.

    The difference between providing healthcare and providing food is healthcare requires specialized expertise and advanced technological equipment. Providing food requires a garden and raising some animals.

  • andyjaggy American Fork, UT
    April 29, 2014 1:18 p.m.

    It's Obama's fault of course, I expected to read as much in the comments. However that doesn't make sense, if Europe's poor are making more than the American middle class.... Last I checked European countries are mostly socialist. If the cause is Obama's socialist policies, Obamacare, etc... than why is Europe better off than we are?

  • U-tar Woodland Hills, UT
    April 29, 2014 12:55 p.m.

    It's an Obamanation now.

  • Shane333 Cedar Hills, UT
    April 29, 2014 12:23 p.m.

    mcclark,

    It is interesting to note that Danny Williams, who was Premier of Newfoundland and Labrador in Canada, chose to come to the USA for superior treatment when he needed healthcare for his heart. Perhaps you could provide me an example of a US governor going to Canada for healthcare? This speaks volumes about the quality of care available in the two respective nations.

    Danny Williams is neither propaganda nor a bogus story. He is a real person who was really seeking the best care he could get.

    I'm sure that our good neighbors to the north are trying their best with good intentions, but that doesn't mean that their healthcare system is better than ours.

  • george of the jungle goshen, UT
    April 29, 2014 11:49 a.m.

    $100,000.00 is the top 10%, they feel like they are middle class. You can guess how the rest of us feel.

  • Sasha Pachev Provo, UT
    April 29, 2014 11:36 a.m.

    I can believe that the middle class in the US is doing worse than it used to, but I have a hard time believing that Europe is doing any better. I meet people immigrating from Europe to the US all the time, but not the other way.

  • mcclark Salt Lake City, UT
    April 29, 2014 11:00 a.m.

    1978 Canada has had single payer health care for a very long time now, it has worked out wonderfully for them. To bad some people believe the right wing propaganda, and bogus horror stories they hear.

  • Liberal Ted Salt Lake City, UT
    April 29, 2014 10:57 a.m.

    "You have to pass the bill to see what's in it" Pelosi

    That alone pretty much sums up the problems facing this country. We have incompetent leaders that are supported by incompetent voters, who encourage these types of answers to questions.

    So the democrats are right, when they tell us overall Americans are too stupid to take care of themselves. Look at what we elect and keep electing.

    However, there is hope in the small grass roots organizations that still hold onto conservative values.

  • Shane333 Cedar Hills, UT
    April 29, 2014 10:38 a.m.

    A more honest explanation for the shrinking middle class in America can be attributed to the increase in government interference through regulation and socialist programs. For example, the Affordable Care Act is both regulation and socialist. It regulates/forces people to buy health care, forces most companies to provide health care, dictates to insurance companies what services they must offer, and taxes both companies and consumers in a socialist intent to then provide services to uninsured. Well, the consequence is increased premiums and taxes, and a reluctance by companies to hire.

    Increased premiums and taxes, forced purchases of products or services, and a reluctance to hire employees means a squeeze on the middle class. These are Economics 101 principles and not difficult to understand.

  • Shane333 Cedar Hills, UT
    April 29, 2014 10:37 a.m.

    There are problems with the article. An Economist should recognize that wealth is not a zero sum matter. Wealth can be grown and it can be destroyed. The "pie" isn't a fixed size. For example, the advent of computers has created massive amounts of industry and wealth that hadn't previously existed. How many jobs and industries exist today because of computers, that didn't exist before? Cell phones, "smart" phones, Google, Angry Birds, etc. are all products and/or services that have come into being in our lifetime, and added industry and wealth to the economy that didn't exist previously.

    The money a wealthy person has doesn't dictate nor limit what I can have in my own wallet. Again, it's not a zero-sum competition to have money.

  • vern001 Castle Rock, CO
    April 29, 2014 10:02 a.m.

    This is all about greed, selfishness, and short-term thinking. Greed, when CEOs rake in millions of dollars while their company does poorly and employees are laid off--that hurts the middle class. Selfishness, because nobody wants to pay more in taxes to help others. And short-term thinking because, when we pay low taxes, we have to cut spending on education and science, and that hurts all of us in the long term.

    Until we begin thinking about others more and what will help this country in the years to come, we are destined to decline.

  • 1978 Salt Lake City, UT
    April 29, 2014 10:00 a.m.

    This has happened under Barack Obama? The democrats ran everything for his first two years and they still control the senate.

    Maybe Obamacare and restricted energy production don't lead to economic success for everyone. Who would have thought?

  • cjb Bountiful, UT
    April 29, 2014 9:49 a.m.

    Due to technology the American economic wealth has increased by quite a bit, the problem is very few have shared in this increased wealth.

  • Hutterite American Fork, UT
    April 29, 2014 9:49 a.m.

    Health care. And a banking system that is much more regulated, and by nature in any case much more conservative than that of Americas'. There is no way my canadian bank would lend money to people I've seen get housing loans down here.