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Thread: Capitalism has no Space for a Middle Class

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    Default Capitalism has no Space for a Middle Class

    Here are some stats which show that the capitalist ruling class now consider that having a middle class is a luxury they can do without. In America, being middle class has meant not having to live from pay cheque to pay cheque (which was regarded as the norm for the working class.) Not any more.


    83 percent of all U.S. stocks are in the hands of 1 percent of the people.

    61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.

    66% of the income growth between 2001 and 2007 went to the top 1% of all Americans.

    Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.

    43 percent of Americans have less than $10,000 saved up for retirement.

    Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.

    In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.

    As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.

    The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.

    For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.

    Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.

    The top 10% of Americans now earn around 50% of our national income.

    Read more: 22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America

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    Politics.ie Member Disillusioned democrat's Avatar
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    The US is a cesspool and the UK is fast approaching same level, The "middle class" is a European concept, not US/UK. The fact that an idiot like GW Bush can buy the Presidency of the US proves that democracy in the US is a facade - not so sure about Tory victory in UK.

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    It seems that since the fall of the USSR, there has been a reinstatement of the Ancien Régime, where a tiny elite own nearly everything, and the vast majority survive from hand to mouth. Whatever you might say about Communism, it put the fear of God in the ruling class, and forced them to keep a middle class on side. But, once the USSR fell, so did the need for a middle class.

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    I see that that gobdaw Sync moved this out of economics, on the basis that it only has to do with the US. As if capitalism only exists in the US. Is it not time to get rid of this character and take on some mods who know what they are doing?

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    Quote Originally Posted by LeDroit View Post
    Is that really a big deal Cael? So what if it's in the US section?
    The squeezing of the middle class is a huge issue across all the Anglo-Saxon economies - including here. There have been profound changes in "middle class" incomes and costs in the last 30 years that very few people are talking about and the implications are shocking.

    [ame=http://www.youtube.com/watch?v=akVL7QY0S8A&feature=player_embedded#]YouTube - The Coming Collapse of the Middle Class[/ame]!

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    Quote Originally Posted by SideysGhost View Post
    The squeezing of the middle class is a huge issue across all the Anglo-Saxon economies - including here. There have been profound changes in "middle class" incomes and costs in the last 30 years that very few people are talking about and the implications are shocking.
    Of course, a chara. Its a gross and obvious attempt to silence this debate on Sync's part.

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    Politics.ie Member ne0ica's Avatar
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    Your right Cael. The middle class in America trough technology and globalisation have become the new working class. The next edition of Time magazine is dedicated to this very issue.

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    Quote Originally Posted by ne0ica View Post
    Your right Cael. The middle class in America trough technology and globalisation have become the new working class. The next edition of Time magazine is dedicated to this very issue.
    But, of course, we are not just talking about the US. The middle class in Ireland and all Anglophone countries has been decimated. Thousands of civil servants will be losing their jobs in the next budget, and the small business man is becoming an extinct species.

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    DUBLIN — As a veteran nurse, Margaret Horan is used to feeling overworked and underpaid. A steady flow of coughing, moaning and bleeding Dubliners must wait hours to be seen because of staff shortages at her hospital in the working-class heart of the capital.

    As if that wasn't enough, Horan now can scarcely believe that the government plans to cut her pay by 10 percent or more — a sacrifice to be shared by hundreds of thousands of middle-class families across Ireland's unraveling economy.

    A government that long profited from a property boom is now raising income taxes and pension charges to combat a sudden, gaping hole in the public finances that means borrowing one euro for every three spent. Its emergency approach is fueling rebellion throughout the bedrock of Irish society — teachers, bus drivers, police officers and nurses — who feel they are being asked to surrender too much in defense of a wealthy, discredited elite.

    Financial crisis hits Irish middle class - World news - Europe - msnbc.com

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    Politics.ie Member ne0ica's Avatar
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    Quote Originally Posted by Cael View Post
    But, of course, we are not just talking about the US. The middle class in Ireland and all Anglophone countries has been decimated. Thousands of civil servants will be losing their jobs in the next budget, and the small business man is becoming an extinct species.
    I don't know if your aware of the housing foreclosure scandal in America. Basically many of the banks were foreclosing on mortgages in arrears. Many houses that were not in arrears or sufficiently in arrears to merit foreclosure were foreclosed. It transpired that the banks and law firms involved had let go of large percent of their staff during the recession. Rather than reemploy the skilled bank staff needed for foreclosure the banks and law firms hired part time McDonald's staff and other minimum wage workers who did not understand the task involved but as long at they met their targets nobody cared. This does not bode well for the rest of middle class even in Ireland. How long before accounting, legal, secretarial work is outsourced to India.

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