[lbo-talk] Why Thomas Frank is Wrong

mike larkin mike_larkin2001 at yahoo.com
Fri Sep 1 13:17:24 PDT 2006


http://www.washingtonmonthly.com/archives/individual/2006_09/009435.php

"....Part of the problem is that Democrats have been misled about the state of the middle class. Progressive economists typically peg median household income at about $45,000. But that includes households headed by 22-year olds (who are on their way up) and 76-year olds (who live on fixed incomes that may be small but are often comfortable since they have no dependents and limited work related expenses).

Among households headed by prime age Americans — adults between the ages of 26 and 59 — the median household income is about $63,000. For prime age married households the median income is over $70,000, and it is nearly $80,000 for two-earner prime age households. The point is that Democrats have a view of the middle class that is at one place on the income spectrum, when the reality is in a very different place.

This is a badly underappreciated point: America is a very rich country. People still have economic worries, but the plain fact is that the vast majority of Americans are well enough off that their financial status is not the overwhelmingly most powerful fact of their lives. Like it or not, this means that for about 70-80% of the population, raw appeals to economic populism just don't have much salience...."

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