Canadian middle-class is richer than American
April 24 , 2014
The New York Times reports that middle-class residents in the United States are no longer the richest ones in the world. Canada caught up to the country back in 2010 and has now become the new No. 1.
"The idea that the median American has so much more income than the middle class in all other parts of the world is not true these days," Harvard economist Lawrence Katz said. "In 1960, we were massively richer than anyone else. In 1980, we were richer. In the 1990s, we were still richer."
Despite the fact that America is still the richest country in the world, it's middle-class no longer enjoys its position on the top.