US Middle Class No Longer Richest

The American middle class is no longer the wealthiest in the world. An analysis by The New York Times reveals Canada’s middle class, which had trailed far behind the U.S. in terms of wealth at the start of the century, now holds that honor. An American family at the 20th percentile of income distribution makes “significantly less money” than comparable families in Canada, Sweden, Norway, Finland, or the Netherlands. That is the opposite of what it was 35 years ago. While the U.S. is experiencing economic growth at the same or faster rate than other countries, a smaller percentage of U.S. households are reaping the rewards.