What is killing the Middle Class?
By reviewing this articles- it is indeed dying. It has to do with the most important factor is income. Income has to do with everything because- it is the way groups get categorized. The three classes we know in society is Upper Class, Middle Class, and Poor Class. Did you every hear the phrase "The richer gets richer, and the poorer continues to get poorer." I think it has a lot to do with our economy, and quite frankly it is true. From looking at research, primarily from the Pew website it states- Found that the median income for middle-class households fell by nearly 5 percent between 2000 and 2014. Their median wealth (assets minus debt) declined by 28 percent after the housing market crisis and subsequent Great Recession. When looking at the facts, it has much to do with incomes, and how it is affecting society. You need an substantial amount of money, but it seems like the middle class- keeps decreasing because of the high costs amounts- just to maintain a "normal" life, and keep finances trending towards. From the past to now- Sadly, middle class has changed. To live keeps getting more expensive. The question to most people is where does it go? And, the answer is to the wealthier class unfortunately. Maybe the question isn't what is killing it, and maybe should be who directly is killing it?
I think that that is an interesting point of view Elizabeth. I especially like the question at the end of your post. I think we understand the problem now its time to start fixing it and pointing out who is to blame.
ReplyDeleteInflation, the rising costs of living is definitely a factor in why those who account for middle class Americans continue to diminish. good post
ReplyDeleteI definitely agree with the quote "the richer gets richer and the poorer continues to get poorer" I've articles and from that information, I believe that this has to do with the fact that the wealthy income continue to grow throughout the years while the rest of the classes just remain the same or their economy decreases, and to that we can add that prices of essential needs just become more and more expensive as time passes by.
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