Friday, June 29, 2007

The middle class...

is not going away. The previous post shows that there has been little or no change since 1983.

Now consider this from The McKinnsey Group: "Immigrants account for approximately 12 percent of the total population of the United States, the highest percentage in eight decades, and the vast majority of these newcomers have either limited or no credit history.

Could it be possible that there hasn't been a drop in the middle class, but an increase in the lower class? Yes, it is very likely since most of them don't come here with wealth. Now throw in the millions of uneducated blue collar workers from Mexico, Central America, and South America and you exasperate the situation.

So, get a grip on your emotions and study the data. The ultra rich are getting richer, but that doesn't mean the middle class is going away. It also doesn't mean that the lower class is increasing because our system is failing. It could be we have a huge influx of lower income people. In our system, they will have a chance (or thier kids will) to improve their status.

1 comment:

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