Politicians, newscasters, editorial writers, and authors have recognized the distinct middle class is slowly vanishing. They are a day late.
Now, they all have ideas to repair the middle class. But, the repair doesn't lend itself to a quick or reliable repair job. It is a decades old problem that began in the 80's and although the middle class erosion has many facets, the main culprits were the politicians.
Politically, we made a somewhat sharp turn to Wall Street in the 80's. Wall Street was the dominate voice and they paid for that voice through campaign donations. One result was the rise of globalism deindustrialization of vast areas of the country. This industry loss was not replaced by enough innovation, new products, or new services. At the same time major industries were consolidating and with the adoption of "trickle-down" economics, by the politicians, banks and even the Federal Reserve; the result has been predictable for a long time. Quackery prevailed!
The politicians want to subsidize the losers of this economic topsy-turvy. but that will not restore the balance. The losers are the families. Business consolidation has made many basic products and services priced out of family budgets, as much business is removed from a strict market discipline. Tax code changes have made the middle class pay a higher percentage.of a reduced income, for taxes. The upper tier pays a lower percentage of their income. Wall Street advantage!
If the politicians want real reform, they would not be talking about subsidizing. Subsidizing is only a palliative.
Now, they all have ideas to repair the middle class. But, the repair doesn't lend itself to a quick or reliable repair job. It is a decades old problem that began in the 80's and although the middle class erosion has many facets, the main culprits were the politicians.
Politically, we made a somewhat sharp turn to Wall Street in the 80's. Wall Street was the dominate voice and they paid for that voice through campaign donations. One result was the rise of globalism deindustrialization of vast areas of the country. This industry loss was not replaced by enough innovation, new products, or new services. At the same time major industries were consolidating and with the adoption of "trickle-down" economics, by the politicians, banks and even the Federal Reserve; the result has been predictable for a long time. Quackery prevailed!
The politicians want to subsidize the losers of this economic topsy-turvy. but that will not restore the balance. The losers are the families. Business consolidation has made many basic products and services priced out of family budgets, as much business is removed from a strict market discipline. Tax code changes have made the middle class pay a higher percentage.of a reduced income, for taxes. The upper tier pays a lower percentage of their income. Wall Street advantage!
If the politicians want real reform, they would not be talking about subsidizing. Subsidizing is only a palliative.
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