Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Wisconsin Republican Governor Scott Walker leads states race to the bottom
#1
4-3-2015

5 States Where the Middle Class Is Being Destroyed Read more: http://www.cheatsheet.com/business/5-sta...z3WKvAX29W

The economic wounds of the financial crisis and Great Recession are evidently deeper than anyone has realized, despite the fact that nearly every economic indicator is showing significant progress. Case in point: the shrinking middle class. We’ve been hearing about how the middle class has been in trouble for years now, and while there’s been plenty of evidence to back those claims up, new data is showing just how deep and widespread the damage is.


Pew Charitable Trusts, through its Stateline blog, has found that the middle class has shrunk in every single state between the years of 2000 and 2013.

5. Nevada: -5%


4. Vermont: -5%

3. North Dakota: -5.1%

2. Ohio: -5.2% - Many manufacturing jobs based in cities like Cleveland have been shipped overseas, and the decimation of unions has also played a big part as well. Just look at a comparison of adjusted median incomes: In 2000, it tallied up to more than $56,400. In 2013? Only $48,000.

1. Wisconsin: -5.7% - The clear winner (or loser) in the race to the bottom has been Wisconsin, losing 5.7% of its middle class households since 2000.

Average median income has dropped by roughly $9,000 annually, and costs of living have gone up as well. There have also been many political battles that have not worked in the middle class’s favor.

Governor Scott Walker gutted many of the state’s unions — which has a big effect on the middle class — and all signs seem to indicate that he will aim to implement similar policies. Like Ohio, Wisconsin’s makeup was particularly vulnerable to a recession, and the proof is in the numbers.
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)