Tuesday, September 24, 2013
Social Equity By The Numbers
A commons society is characterized in large part by rough social equity. Our country moves further and further away from that with each passing year.
This article provides the facts we all need to organize ourselves and our communities to reverse the slide into a society which will be made up of two classes of people: the super rich and the very poor.
A typical American household made about $51,017 in 2012, according to new figures out from the Census Bureau this week. That number may sound familiar to anyone who remembers George H. W. Bush’s first year as president or Michael Jackson in his prime. That’s because household income in 2012 is similar to what it was in 1989 (but back then it was actually higher: you had an extra $600 or so to spend compared to today).
That sobering statistic gives an indication of where the American middle class appears to be headed. Take a look below at a snapshot of where the middle class is now, the problems they face and what our Facebook audience has to say about squeaking out a living these days.
A note on the term “middle class”: There is no single, universal definition so we turned to economic analyst Robert Reich – who spoke to us this week – for some direction. Reich suggested defining middle class as those with income levels 50 percent above and below the median income. Median is a term that means the “middle of the middle.” Median earnings are a key indicator of how the middle class is doing.