It may be time to play a dirge for the American middle class.
While many American families enjoyed rising prosperity in the decades following World War II, those wealth gains have eroded, leaving the middle-class poorer than anytime since the 1940s, according to new research from economists Emmanuel Saez of University of California, Berkeley and Gabriel Zucman of the London School of Economics.
At the same time, the richest Americans have become richer, putting their share of wealth at the dizzying heights only seen during the era of “The Great Gatsby” and the Gilded Age of the robber barons, the researchers note. FULL ARTICLE
THE HUFFINGTON POST
Author of ‘Obama’s America: A Transformative Vision of Our National Identity’
WHY WE PROPOSE TO DO THIS:
This bold plan will restore equality of opportunity in our country. It enshrines the central value of the American Dream, that every American child should have an equal chance at achieving the good life: a job that allows him or her to support a family, and eventually enjoy a safe, secure retirement.
Our plan is fiscally responsible. First of all, increasing the minimum wage will directly save our government money by leaving fewer working people in need of government support. Today, millions of people who work full-time still need Medicaid, food stamps, and other aid because the minimum wage is too low to bring them out of poverty. McDonald’s is even telling its employees to seek out government assistance.