Home > Uncategorized > A Tale of Three Classes in the USA

A Tale of Three Classes in the USA

from The Atlantic

Saez / Zucman
  1. Helen Sakho
    July 5, 2018 at 4:18 pm

    Thank you.
    For the period this graph covers (almost a decade ago), we can see that the very poor are barely surviving, the very rich are in a state of constant blissful equilibrium, and the “middle classes” heading to join the poor?
    What has happened a decade later was perfectly predictable and worse is yet to come.
    And one has not even gone into too much detail (housing costs, health costs, poisonous gases, disability, and the rest…).
    Sadly, the picture is now global, with far greater severity. In some parts of the globe, which have recieved this gift from our masters (eg: the Chicago School of Economics) there is not a single charity left to provide a glass of clean water, let alone a piece of dried bread or a simple vaccination.

  2. Prof Dr James Beckman, Germany
    July 5, 2018 at 4:35 pm

    I prefer to consider the “middle” those who can live comfortably in the present & have no particular fear about losing that comfort in the future. With increasing longevity, the second is a problem for perhaps 80% while the matter of current comfort excludes at least 40%. We must realize that those who HAVE BEEN in comfort normally have lots of assets including second homes & generous friends: Their life (= death) insurance policies can usually be cashed in early. Antiques can be sold. Etc. So 40% now more or less depend upon public support in some way, like job training, food stamps, feeding programs, etc, and by age 75 perhaps 80% will, although Seniors’ programs can conceal much of this. So me this is a matter for government action, but no hope in US unless government at the Federal level changes, it seems to me.

  3. Helen Sakho
    July 5, 2018 at 9:15 pm

    I agree utterly. I remain a realist (like before) on globalisation and the same on my comment above on the future of the other half (min) of all humans around the globe. I have a feeling you might concur.The real issue was, is and remains poverty the extent of which as always is historically and geographically determined within and without borders.

    • Prof Dr James Beckman, Germany
      July 6, 2018 at 6:48 am

      Helen, to be fair, let’s realize that billions of non-Westerners have had economic benefits from globalization. I am old enough to have seen the “Trade, not Aid” campaign after miserable experience with foreign aid going into the pockets of experts, corrupt politicians & of course incompetent spending. Asia, in particular, thanks you, Europe & America.

  4. July 6, 2018 at 2:40 am

    What is being measured?

  5. Prof Dr James Beckman, Germany
    July 6, 2018 at 6:58 am

    Economicref, I espect it to be income, which however is difficult to measure as much of it is unmeasured by governments. I believe at one time at least 40% of Greek income was unmeasured. “Unmeasured” here means “thought or known to exist but not recorded with official tax system”, or at least that is what I use. People going out of taxing jurisdiction without presumably declaring assets which they should are one example. Of course, you can remain without declaring your receipts as many restaurnats, pharmacies & hotels do.

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