Recent reports have shown that the American middle class has been bested, and they are no longer the wealthiest among their global peers. The report documents the plummet of the American middle class, large pay disparities, and unbalanced distribution of wealth. The after-tax middle class income in Canada is higher than American wages. In addition, European low-income residents earn more than American low-income residents.
England is expected to face some tough consequences if Scotland's Sept. 18 referendum results in a split from the UK, a union that has lasted for about three centuries.
