The reason behind the elimination of the middle class.
Hello friends, thank you so much for visiting my blog today and I will be writing about a topic that I consider highly educating and needed for a period like this. I will be writing today on the reason why the category of the middle age is getting completely limited and we are getting to have the class of the rich and the poor alone.
The high rate of inflation.
The middle class ratio basically depend on one major income stream and that one income stream may not be good enough at the start of the job but as time goes on it becomes very difficult to afford certain basic necessities of life with that one income stream as the price of things gets expensive the more on a daily basis, the paid salary becomes insufficient for daily needs even when the salary rate gets increased, it is often insufficient to maintain a decent lifestyle.
The cost of health.
With constant environmental hazards, sickness is usually around the corner and most people usually ignore the need for medical insurance which means they have to take from their pockets to sort out medical bills. The purchase of medications and access to health care facilities does not come cheap and it simply means that in order to access and maintain a healthy lifestyle, money has to be spent and of course that is reducing the amount retained in the pocket and making it more difficult to leave the average class of wealth.
Great difference in the amount earned.
There is a noticeable and great difference in the amount earned by the low classed individuals when compared with the high classed even if the expenses and needs by the both of them are almost the same, when the middle class earners continues to earn less with high expenses to sort, then it becomes highly difficult to climb up above the status of middle class earning.
Raising a career through debt.
It is really expensive to get a college degree these days and a lot of middle class earners who struggle to pay one, find it difficult to sustain their lives as they pay off debt for a longer time than they bargained for. Struggling through a lifestyle like this makes it very difficult to get pass the ladder of the middle classed individual and even has the tendency to push such an individual to the lower class.
Get rich quick schemes.
The temptation to get rich really fast is common amongst the middle class individuals who lose their funds through these dubious schemes and have almost nothing to fall back on. This attitude continues to make them lose all their funds on a regular note and as such fall back to the low classed category.
