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Old August 23rd, 2012, 06:25 AM   #103 (permalink)
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Originally Posted by saptech View Post
This is kinda depressing to read.

Share of middle class income shrinking : Stltoday

Just show how the middle class as a whole is suffering.
Well they obviously arent working hard then.

Declining wealth: Median net worth for the middle class fell 28 percent over the last decade, from $129,000 in 2001 to $93,000, wiping out two decades of gains. Among upper-income families, net worth edged higher, to $574,000 from $569,000. Lower-income families saw net worth fall 45 percent to $10,000.
If this happened anywhere else there would be riots. More wealth transfers are needed. And yes, obviously falling house prices are part of this, but look at the lower-income statistic...
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Last edited by ElasticNinja; August 23rd, 2012 at 06:28 AM.
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