Here's why the middle class feels squeezed (New York, York: middle-class, 2014)

[leoliu]

Middle class income is back to where it was in 1995 — but people are paying more for many things, including college, homes and even a movie ticket.

Why the middle class feels squeezed


other items not included:

medical/health costs
smart devices
property taxes
.
.
.
.
gasoline, included but wrongly priced, remember the <$1/gal good days prior to hurricane Katrina?

[ControlJohnsons]

Originally Posted by leoliu

Middle class income is back to where it was in 1995 — but people are paying more for many things, including college, homes and even a movie ticket.

Why the middle class feels squeezed


other items not included:

medical/health costs
smart devices
property taxes
.
.
.
.
gasoline, included but wrongly priced, remember the <$1/gal good days prior to hurricane Katrina?

The "middle class" feels squeezed because many people who believe they are middle class aren't. They are working class with sense of hubris that they are entitled to more things.

[leoliu]

Originally Posted by ControlJohnsons

The "middle class" feels squeezed because many people who believe they are middle class aren't. They are working class with sense of hubris that they are entitled to more things.

Maybe it is time to specifically define the tiers within American middle class using a 1-12 system based on profession/household income and expense balance/geographical locations, so Americans become more realistic when it comes to social status and expectations.

The current middle class bracket is indeed too wide and inaccurate in many situations. I would not think that for out of towner families in NYC with <100k annual income but without their own residence in NYC can live up a meaningful middle class life style due to the lack of housing stability.

[bill83]

In NYC, home prices have risen WAY more than 13%. Many properties are double, triple, or even more. I am not just talking about Manhattan condos. Many regular houses for real New Yorkers in "the outer borough" are up substantially. I bought my house in 1992. It is impossible for me to do the same now.

[Kefir King]

It can all be solved by raising the Federal Estate Tax to 90% with a $1 M exemption and defining a guaranteed income in the U.S.

Add on a 3% asset tax every year.

Finito!

<Problem: the mega rich write the tax code and jackasses like Obama bray YES!>

[sithlord72]

People stop living beyond their means and then they'll be fine instead of crying and trying to live off the backs of the rich.

[11KAP]

Thank 14 years of Bush and Obama.

[citylove101]

The middle class is feeling squeezed because wages are NOT going up for most people. Businesses are making out pretty good and so, by extension, are shareholders. Workers, to put it bluntly, are getting shafted. Take a look at the past ten years.


"Expressed in constant 2013 dollars, median weekly earnings of full-time wage and salary workers were $784 in the first quarter of 2014, compared with $787 in the first quarter of 2004. Among women, inflation-adjusted median earnings were $710 in the first quarter of 2014, compared with $703 a decade earlier. Inflation-adjusted median weekly earnings of men who worked full time were $859 in the first quarter of 2014, compared with $882 in the first quarter of 2004."

Median weekly earnings, 2004&ndash;2014 : The Economics Daily : U.S. Bureau of Labor Statistics

If you haven't gotten a raise in ten years damn straight you're going to feel squeezed. Because you have been.

[mathjak107]

Originally Posted by Kefir King

It can all be solved by raising the Federal Estate Tax to 90% with a $1 M exemption and defining a guaranteed income in the U.S.

Add on a 3% asset tax every year.

Finito!

<Problem: the mega rich write the tax code and jackasses like Obama bray YES!>

Ever notice everything harsh should always start over and above the point where it shouldn't effect the person proposing it..

1 million in assets is mega rich to you? A 40k pension could generate more than that 1 million bucks would.

[joeymags]

I often wonder if society moving away from cash to a credit / debit card society effects the homeless / beggars. Even if I wanted to give them money, I can't tell you the last time I had change in my pocket. And most don't take credit card swipes.