Monday, April 28, 2014

Maybe Canada's Middle Class Beat U.S.'s A Long Time Ago.

A functioning civilization


Maybe Canada's middle class beat U.S.'s a long time ago. "I think the study is biased in that in median income per capita after taxes, it selected the wrong measure. What is needed is a measure of income or affluence that takes account of the value of cross-national variations in Government benefits delivered to the middle classes. Since the United States has lower taxes than most comparable nations, but delivers much less in safety net and entitlement benefits, it's pretty clear that the measure used in the study reported on by The Times overestimates the real median income of the US middle class in comparison with the middle classes of other comparable nations and provides a misleading impression of the relative affluence of the American middle class." Joe Firestone in Naked Capitalism.

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