The NYTimes misses the fact its the policies of spend like hell, and tax like hell with a progressive system is a massive cause of the destruction of the middle class. When our central bankers devalue the hell out of the dollar... our tax payers are caught in progressive taxation hell. We have had thousands or percent inflation. Nickel beers in N.Y. bars are not 7 to 10 bucks. When you combine that kind of systematic inflation with progressive taxes and a big death tax... you will wipe out your tax paying class in 2 generations. So you either got to the top .1 percent or so and purchased real estate and banks and companies... or you are doomed by the very policies the New York Times is the head cheerleader for. Its sort of disgusting is it not. http://www.nytimes.com/2014/04/23/u...ass-is-no-longer-the-worlds-richest.html?_r=0 The American middle class, long the most affluent in the world, has lost that distinction. While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades. After-tax middle-class incomes in Canada â substantially behind in 2000 â now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.
I will bet they are owned by cronies and they are tasked with cheerleading for the crony's politicians and institutions.
Why do those cronies who own it allow so much re-distributionist material to be published? One would think that building up a populist, inequalty averse citizenry would not serve crony interests very well.
The part you don't outline is that the entire Canadian middle class increase in wealth is driven by a housing bubble. Even Canadian economists covering this news in the National Post and other papers admit that when the housing bubble bursts (and it will) - the wealth of the Canadian middle class will be below the U.S. again.
its a matter of degree... by taking from the productive an giving to the unproductive they can create a larger group of drones and a nice gini coefficient and the low side of resource use. when the bankers decide to call their loans due... they will agree to let the US get out of debt by giving over title to all its resources and switching to a world currency. This version of the future seems more and more like fracking reality everyday. that version is not very different to what has happened in the middle east. A few cronies and some oil guys and bankers get to reap billions and trillions while the populace is told its the Jews and americans faults. Perfect drones. The left already has millions of them. For some reason they believe it is extreme to advocate for a balanced budget and smaller govt expenditures. If the cronies cant take over the land soon there are going to be a lot more rich people due to fracking. so lets see what happens.
it could be. progressively tax everyone (but the cronies) into a very similar low standard of living would bring in a beautiful gini (to you) would it not.