Why The Middle-Class Is Disappearing
2,147,932
Publicado 2022-02-09
“It was at least a secure category,” said Alissa Quart, author of ‘Squeezed: Why Our Families Can’t Afford America,’ [but] there are certain kinds of assumptions around being a middle-class person” that have “shattered” over the past 10 to 15 years.
Some middle-income households and experts believe a lack of supporting policies might be to blame for the drastic changes.
“There is no help whatsoever,” according to Chantal Jacob, a middle-income parent from suburban Texas. “There’s no policy in place to assist people. And I feel like as soon as you get a job, as soon as you’re working, they’re just like, ‘That’s all you need, a job. You got it, go forth and have at it.’ ”
Lawrence Mishel, a distinguished fellow at the Economic Policy Institute, shares that sentiment. “It’s not that the economy got worse, it was that there were policy decisions made so that the economic growth did not filter down to the vast majority.”
The Biden administration has been pushing for several bills aimed at supporting middle-income households, including the $1 trillion bipartisan infrastructure legislation passed in November 2021 and the Build Back Better Act currently stalled in Congress. But observers say it might not be enough to save the middle class from economic hardship now and in the future.
“My friends that were struggling are still struggling,” said Jacob. “I’m still budgeting down to every dollar trying to get things done. So I just feel like if the changes are happening, they’re not trickling down fast enough for us to see the effects of it.”
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Why The Middle-Class Is Disappearing
Todos los comentarios (21)
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Crazy to think only a few decades ago, a single working parent in a factory could support a whole family, even buying a nice house and a vehicle.
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My dad and mom didn’t go to college. They both graduated high school in 1960. Dad was a plumber. Mom was a homemaker. They had four kids. Owned a nice house. And all the kids went to college. That life is gone nowadays for young people.
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Rent, cost of college, daycare and pre school, and health care costs are out of control. Most of my friends younger than me have chosen not to have kids, and I don't blame them at all for that decision.
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America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
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„If they’re in their thirties, they may not feel comfortable having kids because they’ll realize that having a child would be too expensive.“ Exactly. Same in Germany.
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My daughter is 25 and still lives at home with my wife and I. She works full time and saves most of it. I told her to keep saving until she has enough to buy her own house to live in or rent out, or save enough until she has enough money to start her own business. She only has to pay the electric bill, so she's stacking up lovely. That's one way to make it. Family should help family if they're trying to make it.
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My grandfather was a mail carrier for the USPS and grandmother was a homemaker. With that one salary they bought a house, raised four children, and sent all four children to catholic school. They didn't have money for any extras, but they had enough for food, healthcare, clothing, etc. and didn't receive food stamps or any government assistance. That would be impossible to do today.
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The broad-based Standard & U.S. consumer confidence has sunk to record lows, thanks mainly to inflation. Retail spending, home-building, and manufacturing output all declined and those who drive the U.S. economy, are starting to cut back on discretionary purchases, such as appliances and services. Regardless of our market conditions, however, we should continue to promote savings and smart investments.
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And people wonder why younger people aren't having kids.
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"The wealthy, have all the money and pay little to no taxes, the working class pay all taxes, and poor families are there to remind the working class what would happen if they quit that job they hate so much." -George Carlin
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Chantal’s story is so relatable. Taxes and insurance eats a HUGE portion of your paycheck, and you still find yourself out of pocket for healthcare costs. It’s insane
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It’s happening here in Canada too. It’s frustrating. You get a “professional” job and still struggle. Not sure what’s going to happen if this keeps going on.
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I'm 67. I remember when it was possible, if you lived at home with parents who didn't charge you rent, and you worked a part time job (full time in summer), you could easily pay for college at a state university. I did. This is unimaginable today.
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Productivity is up but wages are stagnant for everyone but the higher ups. House prices are thru the roof and real estate is being gobbled up by mega corporations. I can't imagine why the middle class is disappearing.
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I don't understand how the average person is supposed to afford rent with the prices increasing so drastically.
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This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family.
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"The reason it's called 'The American Dream' is because you have to be asleep to believe it." - George Carlin
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Another thing that bothers me when people talk about the middle class is, no one seems to care about the singular middle class person. It's just about families. It's almost as though the people who've decided not to have a family don't matter, as though we don't struggle too. When things are put in place... tax breaks and such... it only seems to benefit families.
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31 no kids, college degree, no healthcare, never married, never owned a home, renter for life, never made more than $35,000 in a tax year.
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Working under some one is like imprisoning yourself they get all the money and you get little pay, may God help us.
