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America's middle class no longer world's richest
By David Mccormack
22 April 2014
While Americas wealthiest citizens continue to outpace their global peers, the countrys middle class has lost its long held distinction of being the most affluent in the world according to new research.
Although economic growth in the United States continues to be as strong as in many other countries - or stronger - only a small percentage of American households are fully benefiting from it, according to the LIS analysis.
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America's middle class no longer world's richest
The country's middle class has lost its distinction of being the most affluent in the world
LIS research over the past 35 years shows that lower- and middle-income groups in the U.S. have plateaued over that time
Canada's middle class has overtaken the U.S. in recent years and a number of Western European countries have caught up too
The median U.S. income - $18,700 - has barely changed since 2000
Yet according to per capita gross domestic product the U.S. has maintained its lead as the worlds richest large country
Only a small percentage of Americans are benefiting from this continued growth
By David Mccormack
22 April 2014
While Americas wealthiest citizens continue to outpace their global peers, the countrys middle class has lost its long held distinction of being the most affluent in the world according to new research.
Although economic growth in the United States continues to be as strong as in many other countries - or stronger - only a small percentage of American households are fully benefiting from it, according to the LIS analysis.
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