Death Of The Middle Class

A new report suggests that the gap between the very wealth and the poor is widening since the last recession. The report is based on U.S. Census Bureau data collected from 1987 through 2006. I don't think that this news is a big surprise to any of us, but it really hits home when you take a look at the numbers. The report breaks down State by State the average incomes of the bottom fifth and top fifth of the population in each State. I have included a link to the story at the bottom of this page. Middle class incomes have remained the same, with average incomes growing just 1.3% in nearly eight years. So the rich will get richer as they always do, and will hardly feel the effects of the difficult economic times upon us. The poor will get poorer, and that is an abomination in the worlds wealthiest Country. Another consideration is the increased amount of public aid that will have to be allocated for the poor. That public aid will be paid for by the taxpayer, further squeezing the middle class. The middle class is going to disappear as we have come to know it. With an average income increase of just 1.3% in the last 8 years, how will the middle class keep pace with expenses largely driven by rising fuel costs? More of the people I know and would consider middle class, are working two jobs provide for their families. If America is to become a Country of only the rich and poor with families working so hard just to survive, it amounts to the death of the American Dream. Today we are far from My Grandfather's America.

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