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America's middle class are less wealthy than at any time since the 1940s

America's middle class is less wealthy in 2014 than at any other time since the 1940s.  The bottom 90 percent of families in the United States collectively owns just  23 percent of total U.S. wealth.  

Meanwhile, those at the top end of society are getting richer with senior company executives and successful entrepreneurs earning pay packets that far exceed those of their predecessors. 

It means that ordinary middle class American families living the 'American Dream' are now worse off than during wartime. 

 The startling statistics have been revealed in a new working paper put together by economists Emmanuel Saez of the University of California, Berkeley, and Gabriel Zucman of the London School of Economics.

Debt has been the big force driving net wealth lower for the middle class, according to Saez and Zucman. Brief bubbles in stock and home prices in the 1990s and 2000s only temporarily offset the steady, depressing rise in mortgage, student-loan, credit-card and other debts for the bottom 90 percent
 

Debt has been the big force driving net wealth lower for the middle class, according to Saez and Zucman. Brief bubbles in stock and home prices in the 1990s and 2000s only temporarily offset the steady, depressing rise in mortgage, student-loan, credit-card and other debts for the bottom 90 percent

Read more: http://www.dailymail.co.uk/news/article-2802640/american-s-middle-class-appears-disappearing-wealth-acquired-world-war-ii-gone.html#ixzz3GsOGBMf8 

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