Re: The Decline of the Middle Class


"Jonas Cord" <cordjonas@xxxxxxxxxxx> wrote in message
news:1117789158.476579.29440@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> Hi all,
>
> Why have the living standards of the middle class declined so much in
> the US (and other countries) over the past 30 years or so?

Hi,

As stated, the claim is meaningless gibberish. Define "middle class". And
even "living standards" does not seem to have a meaning that is the same for
all those who have replied to this thread.

So how about changing "middle class" to "median income household ", or maybe
"middle income quintile". Then it should be clear (even to you) that the
median US household (and the middle income quintile) has during the last 30
(or 50) years, been living longer, traveling more and farther, has more and
better "things" (TV, music sound systems, air conditioning, etc).. They live
in larger and better housing, and have better medical treatments. They have
better access to information (Google) and to communication (e-mail).

To me, these reflect improved "living standards". Do you see them as
"declined"?

Some complain that people now "can't afford to buy a house". But the
fraction that now does own or is buying a house is at its historic all time
high. Some complain that Americans now pay more for housing than in the
past (as a percent of their higher incomes). OK. But since they pay less
for food, and since percents total 100, if something goes down, something
else must increase. And they are now have more living space per capita for
that higher percent of their income.

Some complain that medical costs are higher than ever. Sure. But medical
treatments are better than ever. And modern high tech medicine (MRI's and
cat scans) would be expected to cost more than that little black bag the
doctors carried in the past. One reason we spend more on medical expenses
than ever before is that, because of the better treatments, we live longer.
If you die when you have your first serious medical problem, you don't live
to pay for your second or 3rd ones.



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