Is The United States Still the Richest Nation?

The United States has long been known to be the wealthiest nation on Earth. Its healthy middle class and better faring lower income bracket has been a testament to the U.S. system for decades when compared to other wealthy nations. So it comes at great surprise to many that this is all changing.

Canada’s middle class is now wealthier than America’s.

That according to a recent study by David Leonhardt and Kevin Quealy published in the New York Times in collaboration with the data centerLIS.

Other wealthy nations around the world are catching up. In fact, as far as the lower income brackets, other nations are doing better than the United States, according to the study.

“The struggles of the poor in the United States are even starker than those of the middle class. A family at the 20th percentile of the income distribution in this country makes significantly less money than a similar family in Canada, Sweden, Norway, Finland or the Netherlands. Thirty-five years ago, the reverse was true.”