One of the most obvious sign of this escalating disparity is the lowering of non-upper-class standards of living. In the United States, the top 20% of income earners control 93% of the wealth (2010). The next 20% of income earners, the middle class controls just 6%, with the remaining 60% of income earners, the lower class, controlling just 1%. What happens when the economy takes another turn for the worse, and the upper class moves to protect its investments with layoffs, or send manufacturing jobs overseas? People are willing to work for less pay because there is less work, and the lower classes are forced to acquiesce to the upper classes' economic strategies. Economists are predicting an eventual "phasing out" of the middle class, creating a modern feudal system in which the majority of the populace is in
One of the most obvious sign of this escalating disparity is the lowering of non-upper-class standards of living. In the United States, the top 20% of income earners control 93% of the wealth (2010). The next 20% of income earners, the middle class controls just 6%, with the remaining 60% of income earners, the lower class, controlling just 1%. What happens when the economy takes another turn for the worse, and the upper class moves to protect its investments with layoffs, or send manufacturing jobs overseas? People are willing to work for less pay because there is less work, and the lower classes are forced to acquiesce to the upper classes' economic strategies. Economists are predicting an eventual "phasing out" of the middle class, creating a modern feudal system in which the majority of the populace is in