Essay Shrinking Middle class

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Shrinking Middle class

The Incredibly Shrinking Middle Class

I never thought I would find so much information on the incredibly shrinking middle class until I searched around for it on the Internet. In the United States, the middle class is put into a strange socioeconomic category. Although it is not easily defined everyone believes they belong in that class. I guess what you can do is look at it in two different ways. First ask the question “What percent of all income is distributed to the middle class at any time,” then think about “How many families obtain enough income to achieve a middle class standard of living at any point of time.” Basically these are two ways of approaching the middle class called either the
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The real problems started in the 1980’s, as an economic shift sent shock through the nation’s consumer mentality. Competitive spending intensified. In a very big way.
Throughout the 1980s and 1990s, most middle class Americans were purchasing at a greater rate than any previous generation of the middle class. And their buying was much more upscale. The familiar elements of the American dream, such as the perfect house with the white picket fence, one dog and two kids, had greatly expanded. The size of houses had doubled in less than 50 years, there are more second homes, ownership of increasingly option-packed cars continues to rise, and people travel farther and spend more on their holidays. New items entered the middle class lifestyle: a personal computer, education for the children at a private college, maybe even a private school, designer clothes, a microwave, restaurant meals, home and automobile air conditioning, and of course many others. At a minimum, the average household’s spending increased by 30% between 1979 and 1995. At a maximum, calculated by taking into account a possible bias in the consumer price index, the increase was more than twice that, or about 70%. The middle class was shrinking, companies were downsizing rapidly, economic pessimism and job anxiety abounded. Per capita consumption was rising. But

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