Do you think the middle class disappearing?

Question

The increased number of foreclosures and the fact that minimum wage can't keep up with the cost of living are just two signs of the middle class disappearing. Is the world really becoming those that have and those that have nots?

And most importantly are you worried?

Sorry if I offend you Jessica but I was in a hurry and missed the word "is."

The fact that foreclosures is high is a sign that it's affecting the rest of the economy. In case people haven't hear there's the dominoes effect that comes into play. When your mortage is too high, you have less money to spend on other things. This has an effect on the economy as a whole.

The reason I used minimum wage as an example to support the disappearance of the middle class is because (like some of you said) those who work for minimum wage are not middle class. There are more and more jobs that are just minimum wage or a little bit above it. That's a sign of a growing lower class.

Answer 1

Yes. And I am worried.

Answer 2

First, here is my immediate personal intuitive first-reaction and opinion without research...

Please don't worry, it hurts us all via 'the butterfly effect.'

Yes, the middle class is shrinking while the rich are burgeoning and benefitting from this situation as well as benefitting from the increase in poverty and powerlessness of the disenfranchised.

Rich societies since the dawn of man have been propped up and served by the poor everywhere.

By 'benefit', I just mean getting richer... but in reality, in the long run, it could be that this process is actually also harmful to the rich in that it has globally detrimental effects on the world in which they also wish to survive.

The large middle class was created by and dies with postwar baby boom demographics. Nothing of the sort will happen again in our lifetimes in the Western world.

An economic and baby boom of this size could only have occured after a deep and long global economic depression followed by protracted expansive global war, and barely propped up and supplemented at its conclusion by a ridiculous and misguided sexual 'revolution' which inadvertently produced the last of the boomers.

We, the earth, are in a new era, a new global economy. We are already 2 generations beyond foolhardy Gen-X 1980s. We are 3 or several more generations beyond the Post-Modern era. I don't know any current term for our age.

Demographics in every locale are shifting largely and steadily. Everywhere on earth the same is happening in our economies large and small including the one, the global economy, the global supply chain.

I'm no longer extremely worried, because I feel I am no longer completely in the dark about why the world is not, and won't be any time soon, like it was. I don't wish for the past any longer, but something better.

This is an exciting invitation for us to investigate, take positive actions, create solutions, and grow into the way things are and are becoming, without wishing for the ignorant past.

Optimists always win. No matter what, the world continues to become different, and interesting. I still like being here. Enough changes are occuring unpredictably enough that I have reason to believe and expect that some of them will be for the betterment of me and others on the planet as well.

Second, some research to see what others write on this topic...

Answer 3

It is a fact that the middle class is disappearing, but there is a curve and economics always bounces back. The key is that the government isn't caring right now.

Of course WE should care, but the "working poor" is getting HUGE and people are uneducated about the problem. Haves and have nots is how things are going to be, hopefully we will figure out a way to turn it around. And fast.

Way to bring up a good topic of substance on here.

Answer 4

No, we've been hearing this crap from the left ever since Reagan and the GOP took over.

The Census bureau keeps track of household income over the years, by dividing all households into 20% quintiles. If you look at the data which I've linked to below in Table 2, you'll see ALL INCOME GROUPS are getting richer over the last 30, 20, even 10 years. This is even after inflation is factored in.

If the middle class is disappearing, it's because they are getting richer.

Answer 5

I believe that society will be divided more and more by intelligence. It's always been like that, but it will become more so in future.
For example, unskilled jobs used to pay quite well in factories and other union jobs. But those jobs were given to the mexicans and now Chinese to do. Semi-skilled and skilled jobs which don't require much brains, but intense training used to pay well, but now they are paying barely minimum wage. Examples are drywallers, carpenters, etc. Shop owners are also earning peanuts because their small stores were taken over by Walmart so now they are unemployed, or working at Walmart or Home Depot.
If you are intelligent, you know how to work the system, and can move from job to job, industry to industry and get a decent wage. Your family life will suck, and most such people don't even stay married and have few or no kids.
That's the way it is becoming.
A society of well-paid smarties, and poorly paid dummies.
The numerical ratio will be approx. 1:10 or maybe even 1:20.

Answer 6

The middle class is shrinking, we just covered this in my social inequality class. There's a very good article by Olsen that talks about this. It's called "The Affluent Prosper While Everyone Else Struggles." Granted his data takes place between 70 and 87. But it still gives insight to the shrinking middle class. And to the second poster... most college graduates are still considered middle class. To be in the top 20% a household or families has to make about $170,000 a year. It's always something to worry about without the middle class America won't be the way it is now. Our political parties can say bye bye to a lot of their private funders, as it's the upper middle class who usually contribute money to campaigns. However it should be noted that a lot of western european coutntries such as Germany, France, and Italy have been avoiding this problem mainly due to their strong unions. Something that has really gone down hill in the U.S. in the last 20 years.

Answer 7

I think that the days of the middle class blue color worker is history. World trade is forcing industrial based America to level out wages to compete in the world market. The building trade wage is declining due to an influx of immigrants who are leveling out wages as well as a drop wages due to a lack of jobs in a declining market for housing. However, I think the middle classes will survive with an up rise of technical personal entering an increasing technical world.

Go to college or live in poverty. Bottom line.

Answer 8

my family is Middle Class. I dont see the middle class disappearing. Yes, some will get richer and some will get poorer. However, there are recessions in the economy as well as boosts. For now, I dont see anything to worry about. We have a fairly stable economy for the time being. However, expanded healthcare systems would help us as well as increasing the number of merit-based scholarships for college. Education and Healthcare can only benefit everyone. All in all, I am not worried. There can be improvements, however, we as Americans have nothing to complain about. We are blessed as a nation and as a people.

Answer 9

There is no doubt that the middle class has been dissappearing for years - it's a well documented fact of our current economic state. Not only is our society becoming more polarized between those that are well off and those that have virtually nothing, but it's becoming more and more difficult to make it into that upper class. Many would argue that a college degree is no longer a reassurance of future success by any means. Scary, isn't it?

Answer 10

Yes I am worried. Here in my country, small and medium sized enterprises employes a 7 out of 10 people and there are many foreclosures too.


Big fishes definitely eat small ones, and this I think is what's happening.

Answer 11

The best bet is to work a minimum wage job and get a government subsidized apartment for 300 a month.